Here is how some of the leaders of the financial establishment see the inflation situation today.
- “While inflation has fallen a lot, it continues to be almost 2 percentage points higher than our target.” – President of the San Francisco Federal Reserve
- “Although there has been some progress, inflation remains too high.” – President of the Cleveland Fed
- “I know of no theoretical framework that can tell us how much we will need to tighten long real rates to get inflation back to target in a reasonable time frame.” – President of the Minnesota Fed
Wrong. Wrong. And …Uncertain, but leaning to Wrong.
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