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Rate Cuts May Not End Fed's Quantitative Tightening | Former Atlanta Fed President Dennis Lockhart

Forward Guidance

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Fiscal Policy Stimulates the Economy

R-star is going to be higher in a way that perhaps during the middle of your tenure at the Federal Reserve, fiscal policy wasn't, so 0% was appropriate? Well, certainly we've had a period in which fiscal policy was very stimulated. So I think you would argue that fiscal policy remains net quite stimulative. It's certainly not restrictive in terms of at least the motors of the economy like consumer activity and such.

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