While the Fed tries to engineer the mythical “soft landing” for the economy, Austrian economists know that this is an exercise in futility. Once the credit-fueled boom occurs, the bust logically follows.
The problem of the eurozone is not China, rate hikes, or the Ukraine war. The curse of the eurozone is central planning. Subsidizing obsolete sectors and zombie firms, bloated government spending, and high taxes.
Contrary to the longstanding myth of Fed independence and political neutrality, the Fed is a deeply political organization committed to kicking the can down the road to get the regime through just one more election without a fiscal or monetary disaster.