What a Long Strange Trip it's Been with Alfonso Peccatiello of The Macro Compass
RiskReversal Pod
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The Federal Reserve's Dual Mandate Is Price Stability
The Federal Reserve has started doubting whether the stance was too tight when they've seen a lot of pain coming through the labor market. People lose their job, their nominal spending power goes down and their ability to demand higher wages is reduced because you're getting fired. The most volatile asset class on the planet in the last 18 months have been US bonds, treasury bonds. And the two moving in diametrically opposed ways doesn't augers well for broader economies.
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