The Fed's Strategy for Curing Borrowing Costs

The Fed is using all the tools at its disposal, including what you'd call maybe a psychological tool, what they call forward guidance. They're trying to make borrowing costs expensive enough that people stop spending as much without necessarily leading to a huge dent in the jobs market and the economy. I'm not sure I believe the fed that they ultimately want the soft landing because if the job market breaks, it makes their job easier.

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