Harley Bassman cogently argues that the introduction of uncertainty in trade, and by extension, fiscal and monetary policy, is “a feature, not a bug.” Rather than attempt to restate what he so eloquently states in the latest issue of his periodic missive, I’ll simply link it here. I strongly recommend subscribing to his list. I can hardly believe it is free considering how generously he shares of his years of experience and knowledge of rate markets.
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