Can we even discuss recent US inflation without taking in account the massive fiscal input? Making it indeed once a gain a 'different time'. Add the fact that many CFO's and households locked in low rates for their debt, mortgages etc before the event, while the high rates of the past few years are actually a boon to those with access to assets i.e. to a degree high rates are stimulating the economy instead of beng the supposed break to it...
Part of me thinks that modern monetary policy is a magic trick. Let's all pay attention to this relatively inconsequential interest rate policy, while in the background the real work is done by QE as central banks hand out the dough to their cousins wife's mother who runs this or that massive bank.
Can we even discuss recent US inflation without taking in account the massive fiscal input? Making it indeed once a gain a 'different time'. Add the fact that many CFO's and households locked in low rates for their debt, mortgages etc before the event, while the high rates of the past few years are actually a boon to those with access to assets i.e. to a degree high rates are stimulating the economy instead of beng the supposed break to it...
Part of me thinks that modern monetary policy is a magic trick. Let's all pay attention to this relatively inconsequential interest rate policy, while in the background the real work is done by QE as central banks hand out the dough to their cousins wife's mother who runs this or that massive bank.
The Emperor has no clothes.