Thursday, May 09, 2024 8:34:46 AM
This is exactly what Prof. Steve Hanke has been saying because of the huge drop in the money supply. We know J.Powell wants to begin dropping rates as soon as he can, but the "data" they supposedly follow isn't allowing them to do it. I expect them to start "cooking the numbers" to reflect worsening economic/job conditions or to actually cause some event to get the inflation numbers dropping faster. They'll need to begin dropping interest rates sooner than later to head off the coming DEFLATION.
Of course, the continued fiscal spending being done by the Dems is just exacerbating the problem for the Fed and keeping inflation elevated.
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