What the Fed Didn't Understand

The only way out is a sustained period of inflation above interest rates to lower the real debt burdens. The Fed didn't understand, because if you look at what they said in 2020 and 2021, they're like, we need inflation hot. Inflation got hot. And then there was so much social put push back and political push back. That's why they'd like the first 25 basis point cut was like February of 22.