Inflation and the Fed
Is a positive “real” interest rate necessary? Let’s look at the data.
June 12, 2025
David R. Kotok co-founded Cumberland Advisors in 1973 and has been its Chief Investment Officer since inception. He holds a B.S. in economics from the Wharton School of the University of Pennsylvania, an M.S. in organizational dynamics from the School of Arts and Sciences at the University of Pennsylvania, and an M.A. in philosophy from the University of Pennsylvania.
Is a positive “real” interest rate necessary? Let’s look at the data.
I offer an example (my opinion) of how possible market dysfunction has presented a bond trade opportunity to seize a market pricing anomaly.
R. Christopher Whalen’s Inflated details how America has navigated its eventful history using debt and inflation. What can we learn from the past as we consider what lies ahead?
David R. Kotok’s financial market commentaries have appeared in publications including the New York Times, the Wall Street Journal, and Barron’s. He is a contributor to Bloomberg TV, Bloomberg Radio, Yahoo Finance TV, and other media outlets.
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