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You Can Never Get Out of It
The Fed used to fear higher inflation, but now it fears the extraordinary amount of debt is a deflationary factor. All those hawks are aged out. They're all 90 years old now. There's no way. When they started talking about these new tools that they actually put in place in June, they changed the playbook. So, Josh, I don't know. You cannot ever get out of it. We just saw it."