Thinking About Macro
The Memo by Howard Marks
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The Fed Is Worried About Inflation
Stronger economic growth risks overheating and flation. Higher inflation leads investors to demand higher interest rates, which could slow the economy. The fed is showing that it's more worried about economic sluggishness then about inflation. One informed observer told me that if growth falls back to the recent norm of two % or less, despite all the stimulus that's been thrown at the economy, the fed feels we risk serious stagnation....
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