Loading ...The Fed’s failure to tighten market financial conditions has historic consequences. The backdrop has degenerated into a full-fledged financial mania. Fed officials were out in force this week, pushing back against rate cut expectations. Markets scoff. There is no fear today that the Federal Reserve will actually tighten conditions. They will be on the sidelines with the rest of us watching the interplay of loose finance, speculative excess, market liquidity abundance, and a historic AI mania.
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