GDP growth at 4.1% is impressive no matter how concerned one is for other metrics on the economy. I continue to be surprised on how inflation remains tamed with the amount of earnings and economic growth seen with low unemployment. The only wild card for me is how the Feds balance sheet can unwind and what impacts it will have to the metrics we are seeing. I feel that investors have gotten spoiled by the monetary and fiscal support provided to achieve these figures.
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That balance sheet is unwinding quite well as they work through maturities