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Be careful what you wish for…
Today's payrolls print has inspired more bets on a more hawkish Fed.
With The Fed the most “behind the curve” in 40 years, it is perhaps no surprise that Janet and her colleagues are desperate to get rates up as quickly as possible to preserve some ammo before this farce falters.
The problem for Janet is, the last time they played catch up like this, did not end well…