With all the shortages & the lockdowns in China, I don’t see inflation going away soon, but we shall see.
Raising the interest rates will slow inflation, but if they do half-point raises, as they suggested, there will be pain. I remember the S&L crisis of the 80’s & the RTC closing hundreds of S&L’s & small banks.
Tom Fitton
@TomFitton
ยท
12h
BREAKING: Fed chair who helped engender the worst inflation (transitory!) in 40 years gets confirmed AGAIN by the US Senate!