The Fed has not tightened nearly enough.
The Fed are weak-minded and yet firm on wanting to keep Trump away from the helm of the Ship of State.
Tightening credit will not stop house price rises when the stock market is so highly valued.
raising interest rates is only causing the next cycle of inflation by crashing the economy, which lead to even bigger deficits & inflation. look at gas prices after 2002, after 2008, after 2020 crashes. Biden’s war on fossil fuels and big deficits cannot be fixed by the Fed. We used to know that. The 1980s was not “runaway inflation”. nor is now. Now is just Biden fiscal and regulatory policy trickling down to consumers in higher general price levels.....remember Joe’s tax on Big Oil? The 1970s, Democrats passed a dual mandate law to politicize the Fed in 1977. The Fed interpreted its mandate after by allowing prices to rise when the economy is bad, but not allow wages to rise when the economy is good, which only has caused the far Left to get strong, running against markets and capitalism being unstable and inhumane.
1970s liberals believed taxes, spending and regulation didn’t matter because the Fed always could just buy bonds and pump dollars into the economy. ...until the economy stopped growing, unemployment started rising and prices kept rising with unemployment. Reagan had to cut taxes and deregulate or else the Fed could not tighten, but then it tightened too much at the beginning and ending of the 1980s and then in 2000, with catastrophic results for the GOP and capitalism over time