Is the Fed Trying to Clean Up a Problem?

I believe that the pandemic response will go down as a policy failure. And I doubt that this whole episode of tightening will end in a happy way. The 1970s actually was sustained by monetary creation, whereas 1948 was very rapidly dealt with because there was not the exuberance of monetary creation. Where are you in terms of trying to find an anchor for today's inflation? It's a layer. During World War II, we had massive wage and price controls. CPI peaked at 18%, I think in 1948. These are fast to then. People make the direct association with today in the 1970s. But you could also take it to the inflation. Many peak weeks happens. In other