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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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