The Fed clearly needs to pivot. But inflation is going to run out of control. They’ve got to make a choice. Do they want inflation? Or do they want economic implosion?
Of course, if the central bank chooses inflation, we’re still going to have an implosion because we’ll ultimately end up with stagflation. It will just happen later.
That’s good enough for the politicians because all they care about is that it doesn’t happen now.
There’s only one way to legitimately fight inflation. They have to r...