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How Do You Handle Inflation in the US Economy?
I think the way I view it is that the US has been more aggressive than nearly every other central bank. They've hiked the fastest and you're seeing the effects in real time. There isn't a CEO you can talk to professionally, personally, that won't tell you they're in batten down the hatches mode for a recession. And they see it in the consumer data. So tell me how you get inflation when across the board, every single person saying we're cutting and reducing spending? But that's not what Steve Stephen was saying that you're going to have a treasury market that sees us up.