Markets chose to take a negative view on the extended period of near zero interest rates signalled by the Fed, says NAB’s Gavin Friend. It’s a reminder that it’s the virus that determines the extent of the recovery, everywhere. https://t.co/VcC49Eumrp

Even now, central banks cling to the idea of NAIRU – a point at which unemployment gets so low inflation kicks off. I ask Prof Steve Keen whether they wil ever abandon the idea of NAIRU? https://t.co/9pxpJvvs67