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Formerly TwitterMohamed A. El-Erian
elerianm
The @wsj is right on this: “Even if the Fed cuts, the days of ultralow rates are over.”
Also, we are yet to deal fully with the consequences of the over-indebtedness and resource misallocations encouraged by the protracted period of ultra-loose monetary policy.
#economy… pic.twitter.com/9USXW1q8om
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Mohamed A. El-Erian
elerianm
From the Bloomberg article, “Fed Rate-Cut Debate Shifts From When Toward If on Inflation Data:”
Fed Chair “Powell has kept the committee united in its rate path, with no dissents in nearly two years, but there are some signs of strains. Until recently, Powell had sounded dovish… pic.twitter.com/1wbDAzrrtx
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Jason Furman
jasonfurman
Core PCE inflation, annualized rates:
1 month: 3.9%
3 months: 4.4%
6 months: 3.0%
12 months: 2.8% pic.twitter.com/fnoRWNhW6W
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Nick Timiraos
NickTimiraos
A decade ago, Fed officials looked at very low rates and sluggish growth to conclude the “neutral” interest rate must be lower.
Today, the inverse may be happening: growth is resilient amid new sources of investment demand and higher fiscal deficits www.wsj.com/economy/central-banking/why-high-interest-rates-could-be-here-for-the-long-run-c6670448
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