@RKHilbertSpace Fed will be behind. Bubbles will eventually pass through to cpi. Fed will be slow to start raising rates, inflation 5% or so
@RKHilbertSpace my guess is that inflation will heat up before we have a big downturn. Fed is necessarily reactive.
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@RKHilbertSpace i know, the interest on excess reserves is holding down lending and inflation. Wouldn't be surprised to see those reserves..
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@RKHilbertSpace i suppose we might question whether substituting gov bonds for cash (qe) is really printing and really changes muchThanks. Twitter will use this to make your timeline better. UndoUndo
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