Look: I am eager to learn stuff I don't know--which requires actively courting and posting smart disagreement.

But as you will understand, I don't like to post things that mischaracterize and are aimed to mislead.

-- Brad Delong

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Thursday, September 1, 2022

Fed, Schmed

It seems the Fed likes to keep the Federal Funds rate slightly above the 3 month T-Bill rate.  

But the FFR almost always follows the T-Bill rate, and almost never leads.  

Right now it is lagging, and that might be why pundits are expecting another .75% increase in September.


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