• If Fed-speak is taken at face value, Powell & Co are perfectly fine with the risk of the economy overheating and investors dreaming up all sorts of (hyper) inflationary and dollar-replaced-by-crypto scenarios. The Powell Fed has literally staked everything on boosting employment and restoring the labor market to its pre-pandemic glory, when the headline unemployment rate was at its lowest level since the 1960s and when labor force participation was close to a decade high.

 

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