Thinking About Macro
The Memo by Howard Marks
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What Does the Fed Know?
There is hope that the recent levels of stimulus, deficit spending and money printing will recede in the next few years. Technology, automation and globalization are likely to continue to have significant deflationary effects. The debate rages on regarding whether to day's inflation will prove permanent or transitory. There are intelligent people on both sides of the argument, but i'm convinced there's no such thing as knowing what the outcome will be....
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