Quarterly Update: Q1 2023
As the saying goes: there are decades where little happens, and there are weeks where decades happen. The weeks of Q1 2023 fell squarely into the latter category. Our letter reflects on the consequences of the rapid monetary tightening, the recent collapse of banks and declining retail spending. The letter also discusses the launch of OpenAI’s latest AI model, GPT-4.
Is monetary policy in the US about to get easier?
While most people would point to the Federal Reserve’s decision to lower its policy interest rate this week as an indication that monetary conditions will gradually soften, we believe the central bank’s involvement in a lesser-known corner of financial markets a day earlier could portend a more significant action in order to restore easy monetary […]
