“Biden and Brainard are killing us.”
The ONLY error the Fed is making is not being hawkish enough fast enough.
The balance sheet should be completely cleared in one year.
Rates should go up at least a full point per quarter until all signs of inflation are exterminated.
It would be a horrifically painful experience. No doubt.
But not as painful as avoiding the elephant in the room.
Agree but there is the debt service but I’m thinking it is so bug it does not matter much anymore.