This chapter explores the lack of consistency in setting natural rates of inflation and interest rates, highlighting the perverse incentives of unlimited spending and the outsized powers of central banks. It also discusses China's economic policy and the dangers of favoring a corporatist approach. Additionally, it addresses the vulnerability of Joe Biden and the dominance of Donald Trump in the 2024 presidential nomination.
Democrats ranging from Bernie Sanders to Gavin Newsom are waiting in the wings for Joe Biden to fall down on the job; Jerome Powell spells out an unclear path forward on inflation; and we examine the latest Republican polls.
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Ep.1797
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