The Fed and Treasury Are Finally Pulling in the Same Direction - The Dark Side Of The Boom
The Fed and Treasury Are Finally Pulling in the Same Direction - The Dark Side Of The Boom
Source: The Dark Side Of The Boom
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DW NOTE
The Fed just raised rates into a supply shock that's draining 3 million barrels a day from inventories while the Treasury runs a $1.9 trillion deficit. If that's coordination, it's coordinated insolvency — monetary tightening can't fix a blockade, and fiscal profligacy guarantees the next rate hike hurts more than the last.