Ironsides Macroeconomics 'It's Never Different This Time'
Peak Policy Pessimism
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Peak Policy Pessimism
Hayek's knowledge problem and the bond vigilantes were the catalysts for peak policy pessimism, but the economic fallout from the confidence shock begins this week.
Figure 7: Current services sector hiring (not subject to tariffs) is stable, but the outlook has collapsed, and it is uncommon for the spread to be negative.