The latest episode in the crypto market saga: Fed Governor Barr says labor’s share of income has continued to decline, and whether AI will further boost returns to capital remains an open question.
My reaction to breaking news happens in three steps: read it, get excited, then calm down. Today, I lingered a little too long at the second step. Expectations of looser policy are often priced in first, and when it actually happens, markets may instead spike and then pull back.
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