The Fed’s credibility shifted from Inflation Fighter under Volcker to Wealth Disparity Creator and Inflation Arsonist under Powell. And everyone knows it.
The most reckless Fed ever is still just watching – and fueling – the consequences of 23 months of policy errors as the Inflation Monster gets bigger and bigger.
Will CPI inflation back off as used-vehicle prices unwind? Ha, here come the massive CPI measures for rent that are now soaring. Inflation Whac-A-Mole.
