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Is the Fed Funds Rate a Prediction Market?
Jay Parini: The market was pricing in the idea that inflation is on its way out. In light of today's jobs report, is that actually true or not? And I'm sorry, disinflation, not deflation. He said deflation 11 times during his. Yeah, he's very inflationary. That's why the market rips.Parini: One way to look at this is as a prediction market of where the market thinks interest rates are going.