Supply disruptions caused a major distortion in the economy. Shortages in everything coupled with high inflation expectations have now positioned the fed to lift interest rates aggressively.
The fed was looking to anchor expectations higher and it totally worked.
Waller loves credible threats https://www.federalreserve.gov/newsev...
Williams wanted inflation to run extra hot extra long https://www.bis.org/review/r181206a.htm
Bernanke knew credible threats would work https://www.federalreserve.gov/boardd...
Instagram uneducated.economist
Patreon https://www.patreon.com/UneducatedEco...
Want to buy me a coffee? https://www.paypal.me/meatbingo https://cash.app/$bingo503 https://venmo.com/code?user_id=211351...