Central Bankers as Insane

In the last 20 years, central bankers seem to have taken on the role that fiscal policy planners did. And when you do this long enough, you encourage really bad behavior. The only rate the fed change is the fed funds rate. My biggest worry for the next year is not what the fed's going to do interest trades, or what the global economy will do. If inflation stays high in the us, in europe, as i think it will, then i think youre going to have a reckoning. Interest rades can't stay low inflation stays high, no matter what the fa says or does. We're looking for something that's going to make risk capital goingto shel it