Optimum - The optimum decision about rates at this point may be to leave them where they are since they fell behind curve for extended time. Raising now in USA and Europe will lead to stagflation. Inflation may come down but stagflation will be a real killer of economic activity. #rates

2:57am PDT - March 30th, 2022

The optimum decision about rates at this point may be to leave them where they are since they fell behind curve for extended time. Raising now in USA and Europe will lead to stagflation. Inflation may come down but stagflation will be a real killer of economic activity. #rates

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Michael Harris (@mikeharrisNY)