The Week That Will Be

1. The Fed
Humanity's natural inclination is to hope for the best, but prepare for the worst. The Fed have done just that with their last meeting. Unfortunately it's a confusing message to deliver. Having spent a year embedding an obsession with shortfalls in employment, they have now dashed to the other side of their dual mandate with a sudden emphasis on inflation.

The hawks embraced Quarles' recent reflationary speech, pushing the doves into a precautionary risk management nod towards their . . .

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