
The Insight: Conversations – This Time Might Be Different with Howard Marks and David Rosenberg
The Memo by Howard Marks
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Market Expectations and the Fed's Role in Uncertain Times
The market's reliance on the Fed's quick pivot and flood of liquidity during times of crisis may no longer be guaranteed due to potential inflationary problems. The recent window during COVID highlighted this uncertainty as companies panicked and sold. While being a liquidity provider presents great opportunities, it's uncertain if the Fed's intervention will happen as swiftly this time. These changing dynamics will impact market behavior going forward.
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