It is interesting watch.
Although this is moving more like things in the book, How Money Dies. It is a slow death. And if one keeps in mind that the Fed basically said they want a ‘soft’ landing, it does appear they are succeeding so far.
Pulling back in all the excess cash is going to be painful. Will it happen before the Holidays? I am getting the vibe from my traveling folks they are celebrating this year...period. Most are planning to ‘deal with it’ in 2023.
“Although this is moving more like things in the book, How Money Dies. It is a slow death.”
Until it isn’t. Then it will be very fast.
L