Surveillance: Fed's Pain Threshold with Misra
Bloomberg Surveillance
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The Tightening Credit Conditions Are Going to Play Out
A lot of people are saying, just wait for it because the tightening credit conditions are going to really play out. We're starting to see it around the margins with loan originations and credit loss provisions. This happens as a feature of every single tightening cycle that we've ever had. The question is whether that's enough to push the economy into a below potential growth state that pushes up the unemployment rate. And I think we're not there yet.
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