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3min chapter
Did The Fed Just Back Down? | Joseph Wang & Michael Ippolito
Forward Guidance
The Fed's Decision to Cooperate With Fiscal Authorities on Inflation Control
CBO: In 10 years from now, we're going to be $50 trillion in debt. Fed Chair Powell's response was a very pointed, nope, we do not do that. The ECB will go on and give speeches and Madame Lagarde would say, so we're trying to get inflation of the control. But listen, you guys are giving everyone stimmys, right? That's not helpful to get inflation under control. So what we've learned so far is 5% is not cutting it. Now, fast, let's rewind two years ago, would anyone think that 5% was not enough to getflation under control? I don't think so."
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