What Adrian Orr just learned about the global economy
When the Facts Change
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How Much of the Inflation Is Globally High?
The base level of interest rates are set internationally, not here. For any one country, we are really just anchoring off what is that global interest rate? The nearest measure of the global interest rate would be the cost of debt in the us. And then we anchor ourselves either above that or below that, depending on our own business cycle.
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