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Value After Hours S05 E16: Cam Harvey on 10-3 Inversions, Recession Risk, False Signals and the Fed

The Acquirers Podcast

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The Inversion of the Fed's Predictive Ability

I thought about this even in my dissertation with the Fed doing Operation Twist in the 1960s, the first version of it. And I was like, oh, well, that's going to distort the predictive ability of the yield curve. In this case, in today's case, it isn't a distortion, because it's causal. So given this extreme inversion, they are stressing the financial system and pushing us into an unnecessary recession. It is a blunder, and the magnitude is very large.

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