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Today’s Points:
- As we await Wednesday’s announcement from the Federal Open Market Committee, this is a good time for the second installment of Points of Return’s series,
The Year of Descending Dangerously . It chronicles how central banks are managing their climbdown from the high interest rates they introduced to snuff out the worst outbreak of inflation in generations. Since the debut in March, hopes for cuts have been scaled back drastically, and the gap between the Fed and the rest of the developed world has grown wider. Barring a big surprise, the ...