Now that inflation is the highest it has been in four decades, the monetary authorities are trying one trick after another. Only ending artificially low interest rates will help.
Sen. Joe Manchin has agreed to support a "Build Back Better" lite that proponents claim will reduce inflation, give us better weather, and "pay for itself" through price controls and taxes. Perhaps we should be wary of such political "victories" for the political elites.
Even though the Fed has been inflating the US dollar with impunity, neither the yen nor the euro can challenge the USD.
Now that inflation is the highest it has been in four decades, the monetary authorities are trying one trick after another. Only ending artificially low interest rates will help.
The latest bout of inflation has exposed how central banks around the world have used easy money policies to help cover for the economic drag created by the regulatory state.
Just like the USA, Mexico is being hit with high inflation. This should surprise no one, given the Mexican government's recent economic policies.
With inflation making workers poorer, and with midterm elections looming, Janet Yellen is doing damage control by arguing over the definition of "recession."
Forget Biden's claim that his government is "fighting inflation." His government is creating inflation, and in so doing robbing people of their savings and earnings.
Even though the Fed has been inflating the US dollar with impunity, neither the yen nor the euro can challenge the USD.
When Paul Volcker was Fed chairman forty years ago, he did what was necessary to bring down inflation. Unfortunately, the current Fed leadership at best is engaging in Volcker Lite.
