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There's No Magic to Fed's 2% Inflation Target

What Goes Up

CHAPTER

The Fed's Negative Effects on the Economy

I think we went through this period where the market was anticipating, particularly around the banking crisis, that you're going to hike and then ease quickly. When the Fed starts easing, when you have a crisis, they don't move 25-days when increments, you move quickly. People don't talk about the debt burden on the country today. The longer you keep that rate up, the more you impair your fiscal flexibility.

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