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4min chapter
Did The Fed Just Back Down? | Joseph Wang & Michael Ippolito
Forward Guidance
The Effect of Fed Tightening on Wealth
The Fed's aggressive tightening led to a sizable reverse wealth effect in 2022. But this has been largely reversed. Joseph Cirincione: I think the Fed looks at this and they're there. They can't be comfortable with this, right? He says we did have a credit boom in 2022 but it seems like the credit boom is about to be over. Firmer interest rates could lead to regional banks where deposit costs are going up to 3% according to one analyst.
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