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Did The Fed Just Back Down? | Joseph Wang & Michael Ippolito
Forward Guidance
The Effects of the Fed's Rate Hikes on the Economy
Do you think there's some amount of hedging their own risk here, where a pause gives them a little bit of time to see if those effects ultimately play out? And then the effects could be much worse than they had initially thought. That's definitely part of it, I think. The way that monetary policy works is primarily, well, first and foremost, there's a lot of ways it works through industries that are really interest sensitive. If among those, of course, is housing, I thought it seemed like Sherpa was calling the bottom on the housing market.
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