If the only antidote offered to prevent a 2008-style contraction is monetary easing, then the risk of stagflation is even higher. Without drastic cuts to deficit spending, or a recession, the likely outcome is stagflation.
Official Washington is shocked—shocked!—at the alleged influence peddling by Senator Robert Menendez. But it is the pursuit of empire and attempts by Washington to meddle everywhere that make such peddling so profitable.
If we read between the lines, it is apparent that the Fed is hoping that price inflation will fall to politically acceptable levels without any additional tightening, and without a recession. But "hope" is all the Fed has.
Not satisfied with the futile and destructive wars it has fought in this century, leaders of the US Armed Forces now want reinstatement of the draft. Instead, perhaps our government should give peace a chance.
This is the first time in human history that the energy transition has been decided by politicians without allowing technology, competition, or human ingenuity to come up with a better, more flexible, and more economical alternative.