MacroVoices #344 Alex Gurevich: A Deflationary Depression Lies Ahead
Macro Voices
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The Feds Focus on Core PCE
Feds focus on core PCE rather than headline rates so they kind of bake themselves in the situation of being behind the curve. The monetary policy tools that we have don't really work on food and energy according to Jay Powell. It's not like the world ran out of oil but we stopped drilling the oil wells, he says. "We're getting to the point where we're out of spare capacity"
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