The Fad Is Crafting a Fascade

Jeffrey Toobin: I don't believe for a second that the fad actually believes the wage data is inflationary, but it's useful for them to construct what they're trying to do. They want to create a self ating, self reinforcing, real economic effect because they're telling the economy, this is inflationary. And therefore consumers and businesses will act as if it's inflationary. But again, why is the fed continue to rely on these things? Because they don't have anything else.Toobin: When youre tire existence is depending upon maintaining this wizard of oz type illusion, you can see why they do what they do. That doesn't mean we should be