New Coppola Comment post. Fears that the rapid pace of Fed tightening will cause a #recession ignore the exceptional stimulus of the pandemic years. The level of #liquidity matters more than the rate of change. #inflation
https://coppolacomment.substack.com/p/liquidity-its-the-level-that-matters
@Frances_Coppola That's like that horrid plug hole at Ladybower.
@SteelFolk it is that exact plughole.
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@Frances_Coppola That would go some way to explaining the similarity.
