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In those same remarks, Waller said core inflation has gone "sideways" since December 2021.

In other words, he's acknowledging that hiking interest rates since March of 2022 has had ZERO effect.

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To the bureaucratic matrix, reality-based data is considered a dangerous virus. It is not permitted to intrude.

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And yet folks call those within the bureaucratic matrix "experts".

Be afraid. Be very afraid.

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