i dunno if this pimco chap is one of the permanent group who got it so wrong from 2008 onwards. the last guy was and lost his job. of course, no one wants to admit their mistakes.
it would be kinda nice to have a bit of inflation. you normally expect it to kick in when unemployment hits these levels. but i don't see any in the numbers yet myself. why predict when you have plenty of time to respond.
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