Absent a Black Swan event such as war with China over Taiwan, the critical issue for 2023 will be the survival of our monetary system. The Democrats and Mitch McConnell in the Senate are driving the country into a fiscal nightmare leaving the Fed with a Hobson's choice of imposing high interest rates to wring inflation out of the economy at the cost of the economy itself, or pivoting and opening the floodgates of inflation.
The last line of defense will be in the House and the appropriations process which this deal at least makes somewhat viable.
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