.@GoldmanSachs’s weekly index of US financial conditions tightened last week, a trend that continued today in a rather disorderly fashion.
The change in the liquidity regime was always going to be tricky given the amount of excessive liquidity injected by the Fed and the … 1/
The change in the liquidity regime was always going to be tricky given the amount of excessive liquidity injected by the Fed and the … 1/
… conditioning of markets and the #economy.
With #inflation raging, the longer it takes the #Fed to regain control of the policy narrative, the more such disorderly tightening will cause what would be otherwise avoidable economic, social, institutional and political damage. 2/
With #inflation raging, the longer it takes the #Fed to regain control of the policy narrative, the more such disorderly tightening will cause what would be otherwise avoidable economic, social, institutional and political damage. 2/
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