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Monetary Monkeyshines: Living Life Near The ZLB

Summary:
There must be members of the FOMC feeling they are about to be railroaded into a 50 bps cut a week from Wednesday. Chairman Powell essentially pre-committed to a reduction last week in testimony before Congress. For a Federal Reserve preaching “data dependent” for a while now, the less dovish contingent at the Fed must be asking, “But what about the data?” http://creditbubblebulletin.blogspot.com/2019/07/weekly-commentary-living-life-near-zlb.html

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There must be members of the FOMC feeling they are about to be railroaded into a 50 bps cut a week from Wednesday. Chairman Powell essentially pre-committed to a reduction last week in testimony before Congress. For a Federal Reserve preaching “data dependent” for a while now, the less dovish contingent at the Fed must be asking, “But what about the data?”

http://creditbubblebulletin.blogspot.com/2019/07/weekly-commentary-living-life-near-zlb.html

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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