Surveillance: Fed Outlook with Hatzius
Bloomberg Surveillance
00:00
The Risk of a Catalytic Event
There is this risk that we move higher, and I say risk because people aren't positioned for it. It reminds you of 2006-2007 when things were certainly starting to weaken but markets shrugged them off. The Fed had paused, and it wasn't until 2008 that we started to see unemployment tick up. So there is a long precedent for these cycles simply taking a long time.
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