I’m Chris Anstey, a senior editor in Boston, and today we’re looking at why some argue that “higher for longer rates” might be tolerable. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X (formerly known as Twitter) via @economics. And if you aren’t yet signed up to receive this newsletter, you can do so here.
Practically nobody in March 2022, when the Federal Reserve started hiking interest rates, figured the US economy could take 5.25 percentage points of increases and still be doing fine.
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