The Federal Reserve yielded to international pressure making the very same mistake that it made during 1927. Back then, there was a secret meeting and the Fed agreed to lower US rates to try to help Europe and thereby deflect capital inflows back to Europe. The exact opposite unfolded in the aftermath and even more money abandoned Europe and flowed directly into the US share market.
The Janet blinked, if the Fed cant go now when will they be able to?
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