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6min chapter
JPMorgan's Obituary for Globalization
What Goes Up
The Fed's Mistakes
"The Fed is never going to say what we made a mistake. They will hem and haw about the meaning of transitory," he says. "I think they may quite literally want to create a recession, which would give them air cover for taking on a hawkish stance." The third one is that 2% is not a real target; there's no historical proof that that is the optimal level of inflation.
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