Published: July, 2022
Since the end of the 2020 COVID lockdowns, inflation has exploded into a problem that persistently influences many aspects of our lives as consumers and investors.
How did it happen? How long will it last? How will markets respond?
First, the instructor will discuss the measurement of inflation, including the major public measures of inflation, and will also explain why inflation often feels different (usually higher) than the reports say it is. In doing so, he will also explain why some critiques of the Consumer Price Index are wrong and will go into enough modest detail that students will have a framework with which to examine the monthly CPI report and look for clues.
The instructor will discuss different aspects of the current economic landscape, including fiscal, monetary, and administrative policy going into and coming out of the global pandemic. Components of the current inflation outlook are explained in detail, with expectations for the balance of 2022, 2023, and beyond explained. He will explain how shortages and price increases are related; the difference between a supply shock and demand shock and how businesses are responding and changing their business models in response to inflation, in ways that will render the inflation harder to extinguish.
A fair amount of discussion will involve contrasting monetary policy as currently practiced by central banks with monetary policy as previously practiced, with explicit analysis (and criticism where warranted). We will examine the concept of equilibrium nominal interest rates and equilibrium real rates, and why intuition based on microeconomic understandings sometimes leads observers – including central bankers – to erroneous conclusions.
Fully half of all Americans alive today were born after the last time we saw inflation this high. In this CPE Finance course, we will relearn the lessons of a generation and a half ago.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
, Enduring Investments LLC
Mr. Ashton is a pioneer in the U.S. inflation derivatives market. Prior to founding Enduring Investments, Mr. Ashton worked for several large investment banks as a relative value strategist and as an options and inflation trader. Since 2003, when he traded the first interbank U.S. CPI swaps, and 2004 when he invented and was the lead market maker for the CME’s CPI Futures contract, he has played an integral role in developing new instruments and methods for accessing and hedging various inflation exposures.
Widely known by his trademarked moniker “the Inflation Guy,” Mr. Ashton is a frequent industry speaker and lecturer on inﬂation topics as well as an architect of inﬂation indexed products for hedging real exposures. He is the author of “Cents and Sensibility: The Inflation Guy Podcast,” thousands of blog posts and articles, and two books.
Mr. Ashton has a depth of experience and knowledge about inflation and the way inflation impacts markets that allows him to communicate this complex topic in easy-to-understand ways. It's this talent for explaining that have made him a regular and popular guest on Bloomberg TV, TD Ameritrade Network, and other television programs as well as on a variety of podcasts and numerous radio programs.
Mr. Ashton has worked for large, world-class organizations, but he is also an entrepreneur who founded Enduring Investments, a boutique inflation specialty firm which counts as clients everyone from white-shoe investment banks to low-income individual investors. He also consults on inflation topics for service and manufacturing concerns.
Enduring Investments, founded in 2008, is an employee-owned investment manager that implements specialized inflation strategies. We oﬀer specialized, high value-added advice, investment products, and research to our clients, focusing on our unique strengths and deep experience in inﬂation-linked markets.
Jul 27th, 2022
Good informative session on Inflation - would have liked to have seen a presentation with less finance speak and have the concepts broken down a little more for clarity. I would like to understand more about inflation - this was a first step. :)