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2min chapter
“Soft Landing” Very Unlikely As Global Inflation Crisis Rages On | Darius Dale & Juliette Declercq
Forward Guidance
The Worst Situation for Risk Assets Is a Good Economy
The lagging strength of the economy, particularly in the labor market, is causing the Fed all sorts of trouble and heartache. As we all know, you pull up a chart of the S&P and the Fed balance sheet or global equity market capitalization relative to the global central bank balance sheet. Those things are very, very highly correlated above 90% on both of those metrics since 2009. We're in a very deep negative liquidity cycle downturn that only stands to get worse.
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