The Fed creates the “Ugly Duckling”

Ugly Duckling_1

Tim Worstall writes:

The reason this time is different is because, well, this time is different.

Let´s be more precise. The reason this “time is different” is because monetary policy has acted very differently, compressing spending growth thus, turning the 2007 cycle into the “Ugly Duckling”!

Ugly Duckling_2

PS BTW, The Atlanta Fed GDPNow nailed it. The average of it´s 13 successive Q1 RGDP forecasts (annualized) was 0.58%!

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