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Counselor to @SecScottBessent @Lavorgnanomics: “Inflation has consistently underperformed expectations in spite of tariffs. The labor market is still tight. The Phillips Curve doesn’t work. There’s no trade-off between inflation and unemployment. Inflation expectations in the New York Fed came down this week. Long-term inflation expectations are stable. This is great news. And, ultimately, it’s going to support lower market rates.”
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Source by Treasury Department
