During my eighty-seven years, I have witnessed a whole succession of technological revolutions. But none of them has done away with the need for character in the individual or the ability to think.”
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June 13, 2022
The last time the Federal Reserve was faced with raising interest rates - on a secular basis - was almost 60 years ago. Of course, no one could have imagined, three generations later, it would happen again. Both times it was thought to be a cyclical or “transitory experience.” In 1965 Fed funds were 1% on a 17-year journey to 20%! This resulted...