Surveillance: JPMorgan To Acquire First Republic
Bloomberg Surveillance
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The Fed's Tightening of the Consumer Balance Sheets
The Fed is likely to go ahead and hike later this week. That's basically priced into market. But I think the resiliency that you're seeing in terms of that consumer spending speaks to the fact that so much of a mess was cleaned up during COVID. From all the stimulus programs, people were forced to spend at home. And that strength is now coming in and it's an asset and a buffer for this economy.
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