#1174 EMERGENCY PODCAST: The 2023 Financial Crisis Has Begun
The Pomp Podcast
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Inflation Is Transitory, but It Will Come Back Down Quickly
When the government and the central bank stepped in, they went and conducted one of the greatest monetary experiments in human history. They reduced the interest rate artificially capped at 0% through two emergency rate cuts. From there, we saw inflation continue to tick up from 5% until it eventually topped out at 9%. That is a massive increase in the inflation rate in under two years.
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