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…Interesting. And by a unanimous vote. The Fed had raised rates 10 sessions in a row. We had good inflation news yesterday…maybe we’ve cooled inflation enough?
The Fed holds rates steady, pausing its rate-hiking campaign (msn.com)
Audaces fortuna iuvat
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More rate increases to come. ☹️
And actually, glancing at recent commodities prices reminds one that we are walking a razor’s edge. Right now all eyes are on the threat of inflation. However, should Powell not hit the policy bullseye, we have a serious threat of deflation looming in the background.
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Does/can the Fed control inflation now? The treasury has a mountain of debt to refinance; several trillions of maturing debt, several trillion of current deficit spending and the Fed must shrink their balance sheet.
We will see the phenomenon known as “crowding out” during the next 18 months. The appetite for US debt will drive rates more than the Fed. I think today’s action reinforces this view
The Fed’s only policy “choice” is more funny money. Good luck with that.
Here's a toast with one last pour, may it last forever and a minute more;
Good fortune seems to you have sung, to live and love way past long
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[quote quote=7356]Does/can the Fed control inflation now? The treasury has a mountain of debt to refinance; several trillions of maturing debt, several trillion of current deficit spending and the Fed must shrink their balance sheet. We will see the phenomenon known as “crowding out” during the next 18 months. The appetite for US debt will drive rates more than the Fed. I think today’s action reinforces this view The Fed’s only policy “choice” is more funny money. Good luck with that.[/quote]
We have an economic policy? Who knew…..?
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