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SchiffGold commentary

POSTED ON April 16, 2019  - POSTED IN SchiffGold commentary

Last November, Fed Chair Jerome Powell said interest rates were “just below the broad range of estimates of the level that would be neutral for the economy.” This was the excuse for the central bank’s monetary policy 180 and set the stage for the “Powell Pause.”

Central bankers are perpetually on a quest to find the elusive neutral interest rate, but in fact, it’s an impossible goal, as economist Frank Shostak explained in an article published on the Mises Wire.

Basically, the Fed is chasing unicorns.

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