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Fed Chair Powell Says Goodbye To Era Of Easy Money | Jim Bianco & Joseph Wang
Forward Guidance
The Importance of the Terminal Rate
Jim Bianco: I think today is a day that sort of puts my theory to the test. The terminal rate remains stubbornly about 3.4%. Do you think we'll get to 3.5% without breaking anything? My guess is no. We will probably force the Fed to change course, but remember, we've broken something and it's going to be a big mess on their hands.
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