The market over-prices the chance of <1% rates, failing to take into account the changing psychology of the humans that run the Fed
Thanks 🙏 great post.
Absolute pleasure as always, easily my favorite substack. And free to boot. Thank you very much..
Praise aside, I'd be interested in your personal view on economics in general (in case you have one). Interesting economic thinkers, whether you're a Keynes guy or a Mises guy, or something in between. And maybe your opinion on the US before the FED, say 1800-1900, impact of Gold standards etc. Some food for an eventual post down the line maybe if it's not too far off your alley.