
How inflation breakevens signal eroding Fed independence
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. This morning, I had the good fortune of interviewing Jens Nordvig. The interview will be out tomorrow, but I wanted to give a teaser around something incredibly important: Fed independence. Nordvig is the founder of Exante Data and was previously managing director at Goldman Sachs, senior investment associate at Bridgewater, and head of fixed income research at Nomura. At this point, everyone knows that President Trump doesn’t like Jerome Powell very much and thinks interest rates should be meaningfully lower. Specifically, the lens of criticism has…








