The Credit Writedowns Newsletter

Share this post

The Fed's overtightening and the shift to a fiscal paradigm

pro.creditwritedowns.com

The Fed's overtightening and the shift to a fiscal paradigm

Edward Harrison
Oct 10, 2019
2
Share this post

The Fed's overtightening and the shift to a fiscal paradigm

pro.creditwritedowns.com

The Fed's discomfort

For the better part of 4 years, I have been telling you that the Federal Reserve has been uncomfortable with a mid-cycle role which required it to keep rates at zero percent. The Fed sees its role as principally reserved for cycle turns and not as an agent of mid-cycle stimulus. Both Chairs Bernanke and Yellen expressed discomfort wi…

This post is for paid subscribers

Already a paid subscriber? Sign in
© 2023 Global Macro Advisors
Privacy ∙ Terms ∙ Collection notice
Start WritingGet the app
Substack is the home for great writing