The danger of too low inflation
Prior to Covid the neutral interest rate had continued its long decline
recession
Will the inflation fight torpedo the stock market?
The conquest of inflation was a landmark accomplishment with enduring benefits, but it came with heavy costs. After a brief recession in 1980 and a short rebound, the economy slumped deeply in 1981 and 1982
A time of maximum pessimism
So we search for those things that other people are selling and then if the problem or adverse outlook is temporary we buy them and hold them patiently for years until the public changes its mind.
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