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Is the 'blunt tool' of monetary policy actually just a dull tool?

Apr 7, 2023
Fed rate hikes are kinda starting to slow down the labor market, but unemployment is still very low, and the economy isn't reacting as experts expected.
The unemployment rate is historically low at 3.5%. Increase in travel, boomer retirements and long COVID have kept labor demand high and supply scarce.
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