MacroVoices #361 Alex Gurevich: Jay Powell says, “Effects of tightening not yet felt.” Alex says, “No shit, Jay.”
Macro Voices
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Is Backwardation a Predictor of Future Market Prices?
"I cannot see any scenario that would cause oil to be there where it's currently projected by the market, which doesn't involve at least a recession and a deflationary recession," he says. "Any inflationary environment that I can imagine would also imply oil prices being much higher."
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