BEIGE BOOK Before they speak and tell us how everything is improving, maybe they should read their own release?
NEW BILL GROSS PIMCO PIECE
"Investment conclusions? A 3% nominal GDP “new normal” means lower profit growth, permanently higher unemployment, capped consumer spending growth rates and an increasing involvement of the government sector, which substantially changes the character of the American capitalistic model."
Folks, we havent gotten ourselves wrapped around the problems. Some of which may have NO fix
D
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