One obstacle to weeding out inflation is the large stock of public debt, which is growing even in countries once known for relative fiscal frugality. This suggests interest rates must be kept low indefinitely.
In Orwellian fashion, if you want freedom, that makes you a "racist" and a "fascist." So, it is assumed by our overlords to be "fascism" when truckers protest for the freedom to earn a living.
For the covid despots, anyone who objected to government commands was the equivalent of a heretic who must be condemned or banished from every place except the cemetery.
Even if the Fed finally delivers the tapering and starts raising rates, it won’t get any further than it did back in the last anemic rate hike (2015–18) and tiny balance sheet shrinking (2017–19) cycles.
Powell repeatedly emphasized that the Fed must remain flexible about monetary tightening. Translation: we don't know what's happening and we're likely to reverse course at any time.
