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Liz Truss's Ronald Reagan Moment
What Goes Up
Katy, I'm Going to Get Killed by Your Publicis, but I Can't Help but Ask You One Other Question
The fed surprised investors by being more hawkish at the september meeting than perhaps a lot of people were expecting. Thereis no question about the fact that the fed, in our view, is perhaps gone a little bit too quickly and hasn't given the markets and the economy enough time to digest the amount of hiking that has been put into the system already. No r head of a evercoris i ad hemen, has taken his 20 23 gDP forecast down to zero. So that tells you that, in a lot of ways, the fed is thinking very closely that a recession might be a necessary condition to get inflation under control.
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