Pimco’s El-Erian: Policymakers are ‘all in,’ but the hand is weak
Policymakers find themselves in a position reminiscent of an “all-in” poker player holding a weak hand in a…
Policymakers find themselves in a position reminiscent of an “all-in” poker player holding a weak hand in a high-stakes game: The external signaling is one of confidence: The hope is that the less pleasant internal reality can be altered by new cards, and the inclination is to use a huge
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