The Fed is likely to continue to raise rates if only to maintain its credibility, even though higher rates are price increases from the MMT POV, and the augmented interest payments constitute a fiscal increase.
Zero Hedge
"Horrible"... "Brutal"..."A Disaster For Democrats": A Shocked Wall Street Reacts To Today's CPI Nuclear Bomb
Tyler Durden
6 comments:
Why the shock? Fed keeps raising rates. That keeps prices high, so inflation can't really come down much.
Why the shock?
Apparently because the financial profession as a whole does get how it actually works operationally.
It answers one side of the question whether they are evil or just plain stupid. Of course, at least some could be both stupid and evil too, depending on intent.
Case in point.
"Economist" Stephan Moore, Seven ways America is being destroyed
Definitely stupid. At the same time, following this narrative would destroy America, which some would deem evil. I suspect he is just clueless.
MMT is rocket science.
And pigs can fly.
“ I suspect he is just clueless.”
Checkmate.., again…
Yes, I used to be convinced that "they" could not that stupid. Given more evidence and reflection on it, I have had to change my mind.
It is also possible to be an evil moron, that is, stupid with bad intent also, and some likely are, owing to greed and lust for power.
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