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We Should Be So Lucky
"Sometimes you have to make them feel the heat if they don’t see the light", Mark Meadows told the press on Sunday, ahead of the FDA's decision to approve convalescent plasma treatment for some COVID-19 patients.
He was attempting to explain a Saturday tweet from Donald Trump, who, in a cringeworthy moment born of irritation, accused the FDA of being “deep state” operatives engaged in a deliberate attempt to slow-walk coronavirus treatments.
"This president is about cutting red tape. Tha
“…but investors have no interest in betting against technological ingenuity” has got to translate into productivity improvements if we’re ever going to see a measly 2% real growth rate ever again. Oh, jeez, I forgot the debt load and what this does to real growth. Never mind.
Sorry, on your first graph, what is the 5Y5Y Inflation Swap?
OK, I got off my lazy ass and looked it up:
5 Year 5 Year Forward Inflation Expectation:
Measures the expected inflation rate (on average) over the five-year period that begins five years from today. The current 5 Year 5 Year inflation expectation rate as of August 21, 2020 is 1.76.
I like the picture composition.