The Noisy Status Quo

The Noisy Status Quo

Last week, Deutsche Bank's Aleksandar Kocic took you back "behind the fourth wall." The reference there is to how Kocic has used the theatrical context to describe the communication loop between the Fed and markets. Here's how we briefly recapped things last weekend using quotes from Kocic's classic 2015 note: Recall that you ceased to be a passive spectator in the drama that is monetary policy long ago. No longer are you merely an observer of a play unfolding before you on the stage. You are
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