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Hoping for the best on the policy front but positioning for the worst on the economic backdrop seems to be the flavour of the day, the Fed, now out of necessity alone, will need to adjust policy much more profoundly than they expected.

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    Quiz

    Are you a quotes master?

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    Who said: "The art of leadership is saying no, not yes – it’s very easy to say yes.’"?
    A Tony Blair
    B Donald Trump
    C Mao Tse-Tung
    D Franklin Delano Roosevelt