Surveillance: International Stocks with Arnott
Bloomberg Surveillance
00:00
Is Powell Channeling an Inner Volcker?
I think we are in a transition from a failed experiment with near zero and negative interest rates. That effort to stimulate an already growing economy was beyond foolish. People talk about Powell channeling his inner Volcker. Pardon me, Volcker took the short rate to 500 basis points above the preceding peak in inflation. Today, that would mean making the Fed funds rate 14%.
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