Bears really coming out of the woodwork on March Philly Fed data… I think it’s the wrong take. A lot of people are using the 1970s as the period most similar to today… Some are using 2000 or 2008… We’re using 1990. It’s a near perfect fit. Let m

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Raoul Pal @RaoulPal · Mar 17, 2023

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Great thread by Julien, who works with me as Head of Macro Research at The Global Macro Investor. We think this economic climate is more akin to 1990 than 2008. Back then we had bank runs, a CRE crisis, etc too.

Tweet Mar 17, 2023

Bears really coming out of the woodwork on March Philly Fed data… I think it’s the wrong take. A lot of people are using the 1970s as the period most similar to today… Some are using 2000 or 2008… We’re using 1990. It’s a near perfect fit. Let m

by Julien Bittel, CFA

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