Apr 10, 2022Liked by Peter Nayland Kust

Oh, I'm sure the Fed realizes it, and understands it's necessary. But the politicians will scream bloody murder. I guess we'll find out just how "independent" the Fed really is

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Paul Volker probably realized it when he hiked rates to kill inflation in the late 70s and early 80s.

Ben Bernanke almost certainly didn't realize it, otherwise he would have never embarked on the lunacy of Quantitative Easing.

Jay Powell might realize it, but lacks the stones to follow through.

The financial media, meanwhile, does its damnedest to remain ignorant of it, because they get a case of the vapors at the mere mention of a recession.

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