Alberto Gallo on Investor Complacency, Crisis Risks and Fed’s Dilemma
Macro Hive Conversations With Bilal Hafeez
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The Tradeoff Between Inflation and Financial Stability in the Fed
The short answer is the Fed still wants to be hawkish, but they tighten and when something breaks, they stop. I think policymakers here are aware that if something too big breaks, then inflation can go out of control. They're trying to hold the hand of the market into this higher rate environment. And we don't see the cuts happening anytime soon in the US.
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