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They clearly reacted way too late to the inflation ... We had that surprise inflation print in the summer of 2021, 5.1%. They said it was transitory. They didn't react until November ... They didn't even start the first rate increase until March of 2022. So, they were really asleep at the wheel and late to react to the inflation by about 9
months.
Chamath Palihapitiya
Sacks Calls March 2023 25bps Rate Hike 'Straw That Could Break the Camel's Back'
E121: Macro update, Fed hike, CRE debt bubble, Balaji's Bitcoin bet, TikTok's endgame & more
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