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Fed Pause Ahead?, Overseas Opportunities, and Hold on to Your Staplers! 4/4/23

The Exchange

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The Long and Variable Lag of Interest Rate Policy

The banking system is in much better shape than it was during the financial crisis. The credit condition story as Steve points out is another huge variable and it's very hard to predict that as well. So this is a credit situation that could be developing unlike a liquidity situation which was the financial crisis back in 2008 and 2009. It probably does give us some optimism.

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