{"id":16881,"date":"2022-05-06T15:49:58","date_gmt":"2022-05-06T13:49:58","guid":{"rendered":"https:\/\/www.banquecramer.ch\/understanding-inflation-2\/"},"modified":"2022-06-22T15:15:11","modified_gmt":"2022-06-22T13:15:11","slug":"understanding-inflation-2","status":"publish","type":"post","link":"https:\/\/www.banquecramer.ch\/it\/understanding-inflation-2\/","title":{"rendered":"Understanding Inflation"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"16881\" class=\"elementor elementor-16881 elementor-16869\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-544492b4 elementor-section-height-min-height elementor-section-items-stretch elementor-section-boxed elementor-section-height-default\" data-id=\"544492b4\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wider\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-23447a91\" data-id=\"23447a91\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1719101e elementor-widget elementor-widget-heading\" data-id=\"1719101e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">Understanding Inflation<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-118890c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"118890c\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-3565ed2\" data-id=\"3565ed2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-443a88c elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"443a88c\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInDown&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-heading-title elementor-size-default\">Cramer Library<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a8b8d9b elementor-widget elementor-widget-heading\" data-id=\"a8b8d9b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\u00abThe ignorant man pronounces, the wise man questions and reflects \u00bb<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0cc019c elementor-widget elementor-widget-heading\" data-id=\"0cc019c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">(Aristotle)<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-800ab84\" data-id=\"800ab84\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2267975 elementor-widget elementor-widget-text-editor\" data-id=\"2267975\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\tBanque Cramer believes in the wisdom of \u201chive-mind\u201d, collaborating with a strong network of top-tier financial market experts to feed its in-house investment process.\r\nWe believe that this open-mindedness better serves our clients&#8217; interests.\r\n\r\nIn this same spirit, Cramer Library brings together the best in class educational pieces to hand-hold our clients in the journey of investments.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f4069e8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f4069e8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-48cb7a9\" data-id=\"48cb7a9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7b28998 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"7b28998\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInDown&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-heading-title elementor-size-default\">EDUCATIONAL PIECE<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2f428e3 elementor-widget elementor-widget-heading\" data-id=\"2f428e3\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Understanding Inflation<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-e8f8597 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"e8f8597\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-fc65867\" data-id=\"fc65867\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;gradient&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c6c2081 elementor-widget elementor-widget-text-editor\" data-id=\"c6c2081\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tWe had nearly forgotten the term inflation as we have enjoyed a benign deflationary wave for nearly two decades thanks to an accessible global labor and commodities markets.\r\n\r\nThe world just closed! De-globalization will raise production cost as we will be importing inflationary pressures. There is a whole generation of bond traders who have never witnessed an inflationary FEAR.\r\n\r\nI think it is time to husk this macroeconomic aggregate to unveil the ingredients driving this inflation data.\r\n\r\nWe thought PIMCO would be the ideal partner to deconstruct and explain inflation. Enjoy your reading!\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-c13f126\" data-id=\"c13f126\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cf751f9 elementor-widget elementor-widget-image\" data-id=\"cf751f9\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" loading=\"lazy\" width=\"999\" height=\"562\" src=\"https:\/\/www.banquecramer.ch\/wp-content\/uploads\/2021\/12\/Itburrun.jpg\" class=\"attachment-full size-full wp-image-11514\" alt=\"\" srcset=\"https:\/\/www.banquecramer.ch\/wp-content\/uploads\/2021\/12\/Itburrun.jpg 999w, https:\/\/www.banquecramer.ch\/wp-content\/uploads\/2021\/12\/Itburrun-300x169.jpg 300w, https:\/\/www.banquecramer.ch\/wp-content\/uploads\/2021\/12\/Itburrun-768x432.jpg 768w\" sizes=\"(max-width: 999px) 100vw, 999px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-262d185 elementor-widget elementor-widget-heading\" data-id=\"262d185\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Hans D. Itburrun, CAIA<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1ca7dde elementor-widget elementor-widget-text-editor\" data-id=\"1ca7dde\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tChief Investment Officer (CIO)\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ac35612 elementor-widget elementor-widget-text-editor\" data-id=\"ac35612\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tHead External Asset Management (EAM)\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6af9fe30 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6af9fe30\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-446d91ea\" data-id=\"446d91ea\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f64b233 elementor-widget elementor-widget-text-editor\" data-id=\"f64b233\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: center;\">FOR PROFESSIONAL INVESTORS ONLY<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-c27889c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c27889c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-0d3bd82\" data-id=\"0d3bd82\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-27599745 elementor-widget elementor-widget-heading\" data-id=\"27599745\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Educational pieces used with permission from PIMCO.<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-d9d0e32\" data-id=\"d9d0e32\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-af2ea74 elementor-widget elementor-widget-text-editor\" data-id=\"af2ea74\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<em>PIMCO is an American investment management firm focusing on active fixed income management worldwide. PIMCO manages investments in many asset classes such as fixed income, equities, commodities, asset allocation, ETFs, hedge funds, and private equity.<\/em>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-fe78f73 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fe78f73\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-807597e\" data-id=\"807597e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0347e83 elementor-widget elementor-widget-heading\" data-id=\"0347e83\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Understanding Inflation<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-92e5330 elementor-align-left elementor-widget elementor-widget-button\" data-id=\"92e5330\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md elementor-animation-float\" href=\"https:\/\/www.banquecramer.ch\/wp-content\/uploads\/2022\/04\/PIMCO_Understanding_Inflation.pdf\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon elementor-align-icon-left\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-file-pdf\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Download the document<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-c716fca\" data-id=\"c716fca\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-14feacc elementor-widget elementor-widget-heading\" data-id=\"14feacc\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Assessing Inflation: Theories, Policies and Portfolios<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-742fd54 elementor-align-left elementor-widget elementor-widget-button\" data-id=\"742fd54\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md elementor-animation-float\" href=\"https:\/\/www.banquecramer.ch\/wp-content\/uploads\/2022\/04\/PIMCO_Research_Baz_Davis_BeckFriis_Tsai_Zhang_Jul2021.pdf\" target=\"_blank\" blank=\"\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon elementor-align-icon-left\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-file-pdf\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Download the document<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Understanding Inflation Cramer Library \u00abThe ignorant man pronounces, the wise man questions and reflects \u00bb (Aristotle) Banque Cramer believes in the wisdom of \u201chive-mind\u201d, collaborating with a strong network of top-tier financial market experts to feed its in-house investment process. We believe that this open-mindedness better serves our clients&#8217; interests. In this same spirit, Cramer [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16882,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","footnotes":""},"categories":[155],"tags":[],"_links":{"self":[{"href":"https:\/\/www.banquecramer.ch\/it\/wp-json\/wp\/v2\/posts\/16881"}],"collection":[{"href":"https:\/\/www.banquecramer.ch\/it\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.banquecramer.ch\/it\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.banquecramer.ch\/it\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.banquecramer.ch\/it\/wp-json\/wp\/v2\/comments?post=16881"}],"version-history":[{"count":2,"href":"https:\/\/www.banquecramer.ch\/it\/wp-json\/wp\/v2\/posts\/16881\/revisions"}],"predecessor-version":[{"id":17302,"href":"https:\/\/www.banquecramer.ch\/it\/wp-json\/wp\/v2\/posts\/16881\/revisions\/17302"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.banquecramer.ch\/it\/wp-json\/wp\/v2\/media\/16882"}],"wp:attachment":[{"href":"https:\/\/www.banquecramer.ch\/it\/wp-json\/wp\/v2\/media?parent=16881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.banquecramer.ch\/it\/wp-json\/wp\/v2\/categories?post=16881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.banquecramer.ch\/it\/wp-json\/wp\/v2\/tags?post=16881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}