Daily Archives: July 10, 2020

Placebos Are Powerful Until They Aren’t. We’re Dangerously Close To A Policy Error Based On Misplaced Faith in the Fed.

Placebos are powerful.  Until they aren’t.  Faith in the Fed’s trillions has sustained markets so far.  But the hard-dollar prop holding up the economy is the merely-billion-dollar flow of fiscal stimulus – especially expanded unemployment benefits.  With Congress likely to … Continue reading

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