MacroVoices #387 Jeff Snider: On Deflation and Soft Landing
Macro Voices
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The Fed's Interpretation of the Economic Situation in 2023
Powell said in 2019, one of the primary reasons that he thought the Fed should start cutting rates at that time was that the global economy really looked bad. He blamed trade wars and tariffs but even economists back then knew that wasn't enough to explain how widespread the weakness had become. Germany is already in a real recession; it's not increasing or rebounding out of a technical recession into recovery.
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