The key to certainty is uncertainty!

The key to certainty is uncertainty!

  • Uncertainty about inflation contributes to uncertainty about real interest rates, real wealth, and real income. These uncertainties lead to poor economic decision-making.
  • Federal Reserve officials confronted “an unusually elevated degree of uncertainty” about the future path of interest rates.
  • Outlooks were associated with an unusually elevated degree of uncertainty and that it was possible that the economy could evolve in a manner that would make further increases in the target range appropriate.
  • There is no frame of reference since we haven't experienced it ever! Which leads to more uncertainty....

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