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Like a general fighting the last war

August 28, 2020 at 07:46PM

Like a general fighting the last war
Central banks doing now what they should have been doing a decade ago
The last half of the 2010s was characterized by central banks trying to get back to ‘normal’ or to ‘home’ on interest rates. They were obsessed with getting away from the zero bound, just so they could cut again in the future.

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