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The Fed Lag and Mortgage Rate Dilemma
Bloomberg Opinion
Fed Officials Are Watching and Responding Mode
Garfield: If the labor market tightness doesn't weaken a little bit, how do we possibly get a recession? He says Fed officials regularly refer to the lesson of the 1980s where they eased off soon as the received wisdom. Garfield: But I should say ease off now unless inflation is visibly on its way down and sustainably to the target range.
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