“The real Fed funds rate had been two and a quarter…” — Bloomberg Surveillance at 22:16
“The real Fed funds rate had been two and a quarter percent. What were they targeting? Two percent. You put the two together. There's your fancy algorithm. Four and a quarter percent. Wouldn't it be funny if that proves to be correct over the next decade? I look, John, where we are with this. And just again, we've got…”
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