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The Fed's Playbook: They're Going to Create a Recession Rate
The Feds playbook is that they're going to create a recession rate. All the rates come collapsing back down to the 0% across the whole duration of the curve. Then all these banks can then go back, take all these dead instruments that are sitting on the pause it there. They put them back on their books because now the value is back to the par valueThat's what we're trying to figure out. Not bad, it's like how hard does it hit? And that's what we've got to find out.