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Muddling through in Europe

The scenario I laid out for Europe for 2014 in three posts on the global economy last week is one of muddling through. However, whereas in the US, there are upside risks, in Europe the risks are mostly to the downside, politically and…

On December tapering

This is a brief note because I need to alter my view on the Fed’s taper a smidgen. Yesterday, I said tapering is coming and I implied that it is likely to happen next week. I now think December may be too aggressive a move for the Fed.

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