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3min chapter
Raghuram Rajan: Why The Banking Crisis Isn’t Over
Capitalisn't
The Importance of Faith in the Fed
The Fed has made some mistakes, but they were not marks of gross neglect or incompetence. I do think that hindsight would say there's a lot that they could have done differently and better,. But it's not as if they didn't do the best job they thought they were doing. One example of the faith the markets have still in the Fed is look at the 5-year forward on inflation.
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