2min chapter

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The Wealth Effect Created One Third Of Inflation

The Loonie Hour

CHAPTER

Is FED Trying to Get Back to the Credibility?

The idea of being independent it's kind of is kind of toast I know Keith you're saying that FED is maybe trying to get back there. That is debt monetization. That is like crystal clear that monetization sorry Steve but justYeah I mean I think it's just I think the idea of beingindependent it's kindof is kind ofeaten by political pressure. It's funny just reading that that book that Paul Volcker book right now and he kind of talks about the political influence that ultimately led to higher inflation because nobody really wanted to sort of beat down if no central banker at the time before he got in wanted to actually do the hard work.

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