Markets are propelled by what hasn’t happened

Bloomberg/Mohamed A. El-Erian/7-1 7-2023

illustration of recession at next exit with long road ahead“Whether you are examining the evolution of the US economy or the impact of monetary policy, one of the noteworthy developments this year is not what has happened but rather what has not.”

USAGOLD note: It’s been a year of surprises and unexpected serenity…… El-Erian offers food for thought in this Bloomberg piece.

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