[cgbg]

The Fed cannot control inflation until the interest rate is above the inflation rate.

They have a long way to go to get there....

We are talking years, not months.

[T Ruth]

until the interest rate is above the inflation rate

If the interest rate were 10%, the interest on the federal debt would be $3.1 trillion per year.

That would put a big hole in federal receipts of $4.0 trillion.

Much of the interest paid on federal debt leaves the country and goes to foreigners who own US debt.

If the interest rate were 5%, the interest on the federal debt would be $1.65 trillion per year.

Peanuts. /s