The Next Crisis, You're Not Going to Be Able to Handle.

When repo madness came, you can actually see the retail money supply. The Fed swooped in to deal with that and I'm not sure they knew what was going on. They just threw all sorts of kerosene on the thing or whatever you had. When inflation gets in the DNA, it's no longer just to dial it up, dial it down. It is now deeply embedded in the consumer psyche and employer psyche.