Surveillance: Smart Fed Policy with Garvey
Bloomberg Surveillance
00:00
The Fed Is Committing to a Hard Landing
The consumer entered the hiking cycle with a large amount of accumulated savings. Those savings are running off, and we're tracking by the end of this year they'll be largely gone. I don't think the economy can handle very high real rates in the long run. The Fed is telling you that they have to engineer hard landing.
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