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The US benefits in no way from a war with Russia. Fortunately, many Americans are less than enthusiastic.
Money and Banks
"I get the impression that these people … believe the threat of inflation pales in comparison to climate change and racial inequities."
Does free banking encourage fraud by tolerating fractional reserves? Here's a summary of the debate.
Bureaucracy and Regulation
As much as we may wish to substitute government edicts for markets, the fact is no amount of government control can overturn the realities of economic law.
If a politician has no clue about what causes price inflation, she probably isn't going to have any idea about how to fix the problem.
A general decline in prices is good news for wealth generators, since deflation means the economy is cleaning out its bubble-fueled, wealth-destroying activities.
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.
The Federal Reserve is aware of the “bubble of everything” created in recent years and the elevated levels of debt throughout the economy. But any tightening is likely to trigger a recession.