MacroVoices #361 Alex Gurevich: Jay Powell says, “Effects of tightening not yet felt.” Alex says, “No shit, Jay.”
Macro Voices
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Is the Fed Raising Rates?
The playbook is the Fed raises rates, then first domino to fall is asset prices. Economic activity slows down but not yet showing kind of a broad catastrophe,. Another domino supposed to fall is employment and the fourth domino inflation. Now what I've seen is that the domino of employment is just refusing to fall.
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