The Fed is in a tricky spot. If they wait too long and stick to the framework, ah, you know, that we could enter a multitude of different bubbles. But feels like it would be difficult to back away from the framework without losing some sort of credibility. I wonder about the fedstool mandate here,. To what extent the fet is willing to let the economy run hot in order to satisfy its other mandate, which is to get maximum employment.

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