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Andy Fately's avatar

While I understand the idea that a policy mistake seems much less likely given the seeming advances in understanding and data availability, I fear that by virtue of the fact that the Fed, and basically every major central bank, is focused on backward looking data, the chances are actually still quite high. to me the question is just how long will they continue along the poisoned path.

I hope you are correct, I fear you are not.

Thanks for a very good summary

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Joe Olejar's avatar

With regard to the impact of oil prices, isn't a barrel of crude oil delivered to the refinery less expensive from a domestic source than a barrel shipped from the mid east or even South America? We're been told that shipping costs skyrocketed when this inflationary cycle started?.

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