Il link è: “Fed a Creature of Financial Markets; The Draghi PUT; Global Crisis Coming Up”.
Il passo che condivido lo riposto qui di seguito:
“Only by shortening the normalization timeline can the Fed hope to reduce the build-up of systemic risks. The sooner the Fed takes on the markets, the less likely the markets will be to take on the economy. Yes, a steeper normalization path would produce an outcry. But that would be far preferable to another devastating crisis.”
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