MacroVoices #362 Jeff Snider: Soft Landing or Crash Landing?
Macro Voices
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What if Consumer Price Gains Are Declining Because the Economy Really Is?
For the first time, we can see that really in goods prices, and yes, the US CPI has been decelerating. I don't think it was the rate hikes from the Federal Reserve or the ECB or anywhere else in the world. Even proponents of rate hikes would tell you that rate hikes take some time to have that kind of an effect. What we saw was almost an immediate effect which to me suggests that something changed inside the actual economy that had nothing to do with the Federal Reserve.
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