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Mike O’Rourke, Chief Market Strategist, Jones Trading,

Alpha Exchange

CHAPTER

The Fed Micromaging

The policyas has been mismatched the economic environment. The fed was fold for about, i think it's about two years, maybe more than that. And what you had then was a bunch of traders who were barrowing at lower rates along with higher lending rates. So they started applying more leverage because they knew where rates were going to be and telegraphed everything so easily by frugalness.

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