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What Role Does Monetary Policy Actually Play?
Inflation is always an everywhere, a monetary phenomenon like inflation. Is that incorporated anywhere in the type of work that you do, or is it irrelevant? The way when you're doing the sort of approach it is, almost by design, it's a very short term approach. And so 60 % of the index just doesn't really react to policy. So i would say that if it does, it's kind of hard to really incorporate it into this sort of framework.