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There's No Magic to Fed's 2% Inflation Target

What Goes Up

CHAPTER

The Future of Fixed Income

The world has talked about the FedRays rates. We have to go on a recession. I just don't know why a modern financial economy like the US goes into recession anymore. Other than some quantitative, can you have a negative 1%. In 2020, nominal GDP was 12 and 21 it was 7. Nominal GDP was 7. These numbers are pretty impressive. Unless you have a pandemic or unless you have some exogenous-hocks financial crisis, when you have a consumer-oriented, service-oriented economy, it's much more stable than people give credit to.

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