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Two Traders Sound Off On The “Apolitical” Fed
As noted earlier this morning, the Fed faces a rather vexing dilemma going forward.
They want to normalize, but they need to figure out how to do so in a way that doesn't lead to "excessive" dollar strength lest they should all end up getting purged for treason Erdogan-style.
Of course pressure from an increasingly autocratic executive branch isn't the only reason why the committee needs to try and keep a lid on dollar strength. There are EMs with massive dollar borrowings to worry about, an
