Granted, in principle you could also have a situation where they’re less cautious than management but more cautious than policymakers and it winds up being net positive, though I think that situation is pretty unlikely. Agree the consideration you raised is worth paying attention to.
Granted, in principle you could also have a situation where they’re less cautious than management but more cautious than policymakers and it winds up being net positive, though I think that situation is pretty unlikely. Agree the consideration you raised is worth paying attention to.