5min chapter

The Munk Debates Podcast cover image

Be it resolved: The Federal Reserve needs to fight inflation aggressively or risk its own credibility

The Munk Debates Podcast

CHAPTER

What Does Tax Inflation Really Mean?

Mahomet: We had the Chinese-led commodity super cycle when I was Chief Economist at Merrill. That lasted three or four years, right up until oil peaking at $145 in July of 2008. And now we have these back-to-back global supply shocks from the pandemic and the Russian waged war with Ukraine,. If this is that Fed feels it has to fight with a very inelastic for time period, it can only do it by being a demand contraction. Mohammed: You could argue that they should have started tightening a year ago; you'd be making a new thinking.

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