What the Fed Can't Do to Fight Inflation

The only time it's going to be their problem is if liquidity locks up, and suddenly you're having these dislocations. And they need the bond and the money markets to work. But now we're in a different situation wherethere they'd have to remove liquidity from the market. That's not good for stocks. There's nobody there kind of providing that. They're actual actively trying to take it away from you. It tends to be a very uphill battle.

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