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The Case for Higher U.S. Rates
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The Case for Higher U.S. Rates
Among other reasons, Kevin Warsh was nominated to run the Federal Reserve because of his insistence that software innovations will lower prices so much that the central bank will need to preemptively lower interest rates just to keep the economy out of a downturn.He will soon get to see whether his colleagues on the Fed’s Open Market Committee (FOMC) find those arguments persuasive—or at least persuasive enough to push market pricing back to whe…
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