The Key Argument in the US Is Over Spending

A new vocar should mean a radical change in the fed strategy and involve going to targeting quantities of reserves. Volatility is the best policeman of risk, appetite and risk to improve labor supply. If earlyretre wasn't good for hungry, it won't be good for the us either. Maybe the path to slower services inflation is through lower asset prices. We recognize that what we are saying is extreme, but we think the fed will soon incorporate some version of this thought process. But what was tried before, the fed cannot do any more due to the political imperatives of inclusive unemployment and redistribution.

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