Price Inflation Hit Multi-Month Highs in July, but Trump Wants More Easy Money
Last week, I noted that in spite of mounting pressure on Fed Chairman Jerome Powell and the FOMC to cut the target policy interest rate, the Fed absolutely should not do it. Although Powell claims that current monetary policy is restrictive, this is not the case. Indeed, following an injection of more than five trillion dollars into the economy since early 2020, the last thing we need is even more Fed intervention in the economy to add even more liquidity. I wrote: