Fed Staff Delivers Intellectual Ammo for Hawkish Approach to Inflation
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter “Because monetary policy acts with a lag, waiting for inflation to materialize before reacting is undesirable, particularly when economic conditions are such that outsized deviations of inflation from its target are a plausible outcome.” Let’s break the above quote apart and put it in perspective: Waiting with rate hikes until inflation … Read more