Introducing Big Ideas 2023
FYI - For Your Innovation
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The Fed Is Softening Its Rhetoric
We are now officially on a year over year basis in negative territory when it comes to M2. The Fed funds rate did go up this week, but we have never seen this dramatic an increase in interest rates. We believe the bond market sees much lower real growth and or much lower inflation in the years ahead than the Fed does. And so we believe that also is a reason that the Fed is softening its rhetoric.
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