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The market needs to be coddled and gently eased into a slightly higher interest-rate environment, and that appears to be what San Francisco Fed is doing, rates need to normalize and San Francisco Fed needs to give San Francisco Fed room to lower again in the event of another financial crisis.

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    Who Said, “We have nothing to fear, but fear itself”?
    A Lyndon B. Johnson
    B John F. Kennedy
    C Evel Knievel
    D Franklin D. Roosevelt