What Will the Fed Do Next?

The transcript discusses the global economic slowdown and the challenges faced by markets due to conflicting information. It highlights the difficulties central banks encounter in initiating a normal tightening cycle and their desire to reduce quantitative easing. The central banks are in a dilemma as they aim to pull out liquidity but face adverse data and global conditions.

How might central banks miss their opportunity to pull out liquidity?

What does it mean when it is said that 'the whole world is moving against them'?