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2min chapter
Age of Easy Money (Full-length Film Audio Track)
The FRONTLINE Dispatch
The Fed's Reluctance to Reverse Course
Some have been betting that the Fed will relent, stop raising interest rates as inflation cools down. We've got to a situation now where the markets dismiss what the Fed is telling us. It's a moment where there are many more potential outcomes. Some are fine as soft landing. Some are not a hard landing. And the truth is you cannot distinguish enough between them. The asset bubble is increasing the amount of the debt servicing of everybody overboard like crazy. So we lived in a bubble in a dream, and this dream in a bubble is bursting and turning into an economic and financial nightmare.
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