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Latest News & Insights
It is both cheap and easy to blame the Q1 slowdown on bad weather. The real culprit is credit.
The possible need for policy to get restrictive, not just neutral, is likely to become a regular talking point for Fed officials in the months ahead.
Contrary to popular belief, we do not hate Markit or its PMIs. We just do not trust them to inform us about what the economy is up to.