The Fed governors met March 20 and 21 and released minutes of the meeting yesterday. This is what they said:
“Uncertainty about the tax cuts or about the implication of higher budget deficits for fiscal sustainability and real interest rates represent sources of downside risk.” What’s that mean? This is what they meant.
“We have no freaking idea what’s gonna happen. Nobody ever passed stimulus before when unemployment is already low. Who knows what will happen?”
Here is an economic chart to represent this general sentiment.
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