Expert economist James Smith hopes Fed will back off
Seventeen times since 1901, short-term interest rates have risen above long-term rates for four months or longer — a sustained "inverted yield curve” — and 17 times a recession followed.
Trying to slow the economy and nip inflation, the Federal Reserve hiked short-term rates and from mid-2006 to fall 2007 the normal state of investment affairs was upside-down. Investors got a higher rate of ret...
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