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Fed’s Silent Battle Against Inflation | Durham News
Jackson Hole’s spotlight is on Fed Chair Kevin Warsh’s first major speech — but the real drama lies in what he won’t say, especially about fiscal policy’s grip on interest rates. Markets are already betting on a December rate hike, even as long-term yields surge without Fed intervention. Internal Fed debates, bond buybacks that oddly lowered yields, and a staggering $1.9 trillion fiscal deficit this year fuel fears of “fiscal dominance.” With $40 trillion in debt, monetary policy is being squeezed from all sides — pushing borrowing costs higher for homes, businesses, and infrastructure — even…
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