Replicating Hedge Funds, Lessons from Bridgewater and the Outlook for Inflation with Bob Elliott
Excess Returns
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The Fed's Tightening in the Late Cycle
The sensitivity of the economy to the Fed tightening in this cycle is very low. And that reflects the fact that the economy just isn't a lot less sensitive to the Fed's policy than it has been in most of our experience. So yes, the general idea here that this is going to be much more difficult to keep get inflation down and get it to stay below five percent? That's not true. Inflation entrenchment isn't some theoretical thing. It's why the Fed is so focused on the services ex housing component of the world. The Fed needs to look at how deep its depth needs to be for wage growth to go forward. If you're sitting in the Fed shoes,
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