That awkward stage where the fiscal stimulus train is slowing down, while the monetary response remains noncommittal.
YOU ARE HERE.
The twilight zone.
It’ll pass, but we must see it through first.
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By the way, Dr Jeff. Why can’t we explain this rough patch as the delayed effects of the past three months drop in global liquidity? Which has turned up already, btw, as the dollar has weakened.
I’m referencing this chart.
Nice chart
