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A Dilemma Of The Fed’s Own Making | Danielle DiMartino Booth & Joseph Wang
Forward Guidance
The Relationship Between Credit Risk and Unemployment Expectations
The move index measures implied volatility in the Treasury market. It's not higher than 2008, but it's higher than it was after the pandemic. Daniel: If we have more credit risk, basically what's going to happen is that real economy companies are going to have more stress. He says a negative real economy shock could feed in and cause credit spreads to widen.
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