MacroVoices #353 Luke Gromen: The Fed Is Headed For Difficult Decisions
Macro Voices
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Is It a Bear Market Rally?
The US deficit as a percent of global GDP growth is going to be like 68%. There's not enough balance sheet globally to finance this without either selling other assets or driving the dollar up. If there is not excess dollar liquidity supplied by the Fed from somewhere, I think we're in on pace for anotherPretty ugly year to start the year. Let's talk about inflation next.
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