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Is Inflation Going to Stay Higher for Longer?
The Federal Reserve's balance sheet has gone from $400 billion to $8 trillion in the last 10, 15 years. There's just so much capital in the system that fundamentally, I just don't see how people think inflation is going to back to two. It's going to be a low interest rate environment until we start to reduce money supply and everybody's excited that M2 flattened this year.