Powell Remains Hawkish, "Premature To Think About Pausing" | Weekly Round Up
Supply Shock
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Is the Budget Deficit Going to Go Down Concomitantly?
The zero interest rates allowed the budget deficit to balloon, right? And the budget deficit went to, I think at one point it was like $4 trillion. So we had this whole weird thing and we've talked about how many interest rate hikes are going to change the zero COVID policy in China. Doesn't matter how many times he hikes, how many interest Rate hikes will change the price of oil. It's just not going to matter. These types of policy decisions can turn garden variety recessions into depressions. 1840s, 1930s, 2020s. But it could be very, very ugly over the next two years.
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