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Rate hikers fear another 1978 even as 2008 comparisons get louder by the week.

Eurodollar University

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Introduction

Central bankers have gone back into this shell believing that inflation is the biggest risk. They don't see convincing evidence in the consumer price numbers themselves to suggest what the rest of the world's economy are already suggesting. We're more worried about 1970 style inflation than we were about 2008 style banking crisis, he says.

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