What is the current stance of the Fed regarding interest rates?
Cumberland 's Eisenbeis Says Importance of Fed's Balance Sheet 'Overemphasized'

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How does the current unemployment rate compare to historical levels according to the discussion?
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What factors are contributing to the slow growth in the economy as mentioned in the text?
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How does the labor market's performance relate to inflation pressures according to the discussion?
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What concerns did Paul Krugman express regarding the Fed's rate hike cycle?
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In what ways has the Fed shown flexibility in its monetary policy?
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What is the significance of the balance sheet reduction mentioned in the text?
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