Global Matters Weekly – Macro Matters

 In Weekly Digest

When I raise the issue of the importance of macro, I tend to get the same responses, which fall into two categories:

  1. It can’t be done; no one has a good record predicting macroeconomic variables like GDP growth.
  2. Why bother? Even if you had perfect foresight of what these variables were going to be, you wouldn’t be able to predict the market’s reaction.

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