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Why the Fed’s Rate Decision Marks a Profound Shift in Monetary Policy | James Aitken

Hidden Forces

NOTE

Monetary Policy's Paradox: Growth Amid Restraint

Despite the Federal Reserve's characterization of monetary policy as restrictive since August 2023, significant growth indicators challenge this narrative. The S&P 500 and gold prices have risen over 30%, while real GDP growth has reached approximately 3.4%, exceeding the Fed's projected trend growth by 1.5%. This suggests a disconnect, as enduring economic expansion and substantial asset price increases would not align with genuinely restrictive monetary conditions.

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