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BCB104: JOE CONSORTI: Recession, Real Estate, Banks & Left Nipples (Macro Update)

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CHAPTER

The Fed's Ability to Fight Inflation

The Fed has the ability to, if this credit crunch doesn't extend far beyond banks, which with commercial real estate, that may very well be the case. We're trying to engineer unemployment in order to bring down inflation. That is their policy mandate through and through. And so it's helpful to realize that that's what the Fed's trying to do. It's trying to slow down the economy. The recession is pretty much guaranteed at this point, right?

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