“We’ve sown the seeds for the next downturn” and there’s a lot of similarities to 2008, one fund manager says.
As Prins reminds us early on, the Fed and other central banks have expanded their balance sheets by more than $20 trillion, and despite all the chatter about withdrawing stimulus and letting its balance sheet roll off, the Fed’s balance sheet has only shrunk from $4.5 trillion to $4.3 trillion.
That Could Mean an Early End to Interest Rate Hikes
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