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Inflection Point
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The Fed Keeps QE on for as Long as They Did
I think there's a more approximate cause for how they're thinking about it. There's the labor market tightness. They were looking at the most lagging indicator, and it would make sense to me that they're doing the exact same thing here. I do feel like that absolute buyer of last resort is gone. Nobody wants US bonds right now. Nobody wants any bonds. But as the economy recovered, we don't need to run the same level of deficits. We're still running deficits because corrupt politicians are going to spend, and they're everywhere in this country.
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