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Michael Hasenstab Warned against Complacency

Michael Hasenstab warned against complacency because of the followings:

  1. Inflation might not be completely death
  2. Structurally labour market is tight due to anti-immigration policy
  3. Cyclically labour market is tight as unemployment is all time low
  4. Tariff only lead to higher prices
  5. Rise of populism

Reference:

Seeking Alpha, 2019-06-30, “Are Investors Today Too Complacent?”

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