The Fed's Going Through This Debate

The political backdrop right now is for the m m t crowd to continue to have a lot of influence and for ther to be a lot more stimulus. I would anticipate that as things start to get bad, where you've got a real problem with inflation, the forty % is in real trouble,. You do exactly what the president of the united states prescribed as the solution for inflation - pump more money into the economy. Now that is obviously completely at odds with anything that anybody who understands inflation knows to be the right prescription.