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Russia’s Game of Thrones, Small Caps’ Big Gains, and Legacy Media Meltdown 6/26/23

The Exchange

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The Fed Can Control Inflation

I don't understand where the next leg of substantially higher inflationary pressure is going to come from. We're not looking for inflation to go back to 7, 8, 9%. I think the question is if you look at the math, is it obviously going back to 2? The reaction function always seems like when you get way below 2, people panic.

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