MacroVoices #353 Luke Gromen: The Fed Is Headed For Difficult Decisions
Macro Voices
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Peak Cheap Energy Is a Secular Inflationary Driver
The Fed's ability to buy treasuries, as it did with QE for years and years, was enabled by a deflationary backdrop where they could get away with doing with that because there was no inflation. Now there is inflation to risk exacerbating. We've got governments continuing to deficit spend, or at least the US government is spending away. And you're questioning where the heck the money's going to come from.
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