In the novel, Moby Dick, Captain Ahab is the megalomaniacal commander of a whaling ship. With just one thing in mind: to capture the great white whale, Moby Dick.

It has been much the same for the current Chairman of the Federal Reserve, Jerome Powell. Since he assumed a position on the Board, back in 2012, and certainly in the 3 ½ years since he has been Chairman, Powell, like the Fed in general, has had really one Monetary Mission. To stimulate inflation.