MMT-based answer, of course, but no specific mention of MMT.
The Hill
No, the Fed cannot engineer a soft landing, but can wreak havoc trying
Yeva Nersisyan, Associate Professor of economics at Franklin and Marshall College, and L. Randall Wray, Professor of Economics, Bard College
“ In the current circumstance, the more appropriate solution would be to work to alleviate supply-side constraints. That, however, requires much more work and intentionality than a stroke of a pen to change interest rates, which camouflages as action rather than the cop-out it has proven to be.”
ReplyDeleteWe have to euthanize the climate nutters…. Not political acceptable to Democrats so they are going to simply rely on the Fed to get rid of the figure of speech “inflation”…. And if the Fed fails they are going to blame “Russia!”…
A little “Russia!” bashing thrown in here too:
ReplyDelete“ The pandemic has taught us that the United States must become less reliant on foreign production, and we need massive investments in alternative-energy projects to free us from the grip of OPEC-Plus, which includes Russian oil production.”
And we don’t need investment in “alternative energy!” to overcome OPEC+ price controls we were a significant net exporter of petroleum products pre Covid at > 13m per day and prices were generally acceptable…
ReplyDelete