Macro Musings with David Beckworth
The New Bazaar
Fiscal Dominance Is Not Going to Happen
I think fiscal dominance was over reported and it's not going to happen. The structural forces that had them low before the pandemic haven't disappeared, they're getting worse. I'm willing to bet that we come back in a few years that rates will be back down to 2%, maybe 2.5%. This will be a one and done kind of blip for inflation and for temporarily higher rates.
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