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Jón Steinsson 🗽
jonsteinsson.bsky.social
did:plc:da3vqxwkqjqetthakpcnqfog
The Fed spent down a lot of credibility when it looked through the temporary post-Covid inflation and managed to engineer a rare soft landing. But this probably means it has less of an ability to do so again now (less credibility). That means a more aggressive approach is probably optimal this time
2025-04-05T00:40:34.599Z