MacroVoices #378 Ronnie Stoeferle: In Gold We Trust - Showdown
Macro Voices
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The Fed Regaining Credibility Over the Last Year
I think this narrative of Jay Powell and I'm not the biggest fan of the ECB, obviously, they have been acting as flexible as an anvil in free fall when it comes to inflation. They told us that it's transitory and it's only a hump and so on forever and then they reacted very, very late. First day, they over ease and they over tighten and now we're obviously in the over tightening environment. If you have a look at break even rates, yeah, disinflation is the name of the game at the moment. However, if we have aLook at the longer term game and I would say that this is kind of this game between inflation and deflation
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