UBS: Current Economy More Like 1990s Boom Than Roaring 20s Despite Inflation and Rate Hikes
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UBS sees the current economy more like the 1990s boom than a repeat of the Roaring 20s
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Inflation climbed in 2021 before the Fed pivoted to rate hikes in 2022
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The economy grew 4.9% in Q3 despite 525 basis points of Fed rate hikes
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UBS thinks the 1994 Fed rate hike cycle to 6% resembles today's cycle that may end in 2024
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Differences from the 90s include higher debt, social tensions, but there are signs of something afoot like rising productivity