From bad to worse, hammered by retail sales and inflation.
How do you know when inflation is about 40%?
Bondholders, savers, consumers to be put through inflation wringer.
To keep a financial system and currency union from collapsing on each other.
The Fed is way behind the curve, but at least it now sees the curve.
What does inflation have to do with it?
Retail sales are held up by only two sectors. The rest are sinking.
Workers, bondholders, savers get sacked. So what would Yellen do?
A very inconvenient connection.
The “supply shock” in Egypt.