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In his 2015 book, The Courage to Act, former Fed Chair Ben Bernanke gave us glimpses of the inner workings of the Federal Reserve. The Fed’s decisions are data-driven and this data is collected from various sources including from each of the regional Feds. My key takeaway from the book was that the Fed is often behind the curve because they are relying on data that is often stale and they might not be paying as much attention to leading economic indicators as they should. The big risk in the current environment is that…
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