Powell is accountable for this market we have.
Was 100% Clear in the summer of 2021 that Inflation was rising fast.
He did NOTHING! Kept QE, Interest rates at ZERO.
Said inflation was "transitory". Said the dot plot was at 2% Inflation.
Let the insiders dump first.
Now look!
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It is a grave error to let the guy who said inflation would be transitory run the operation to stop inflation. Fully consider this. In Powell's mind, he absolutely must vanquish inflation, or he will have failed the country twice if he doesn't.
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To hell with that. We should have been tightening supply and raisin rates since about 2013. Tighten first, then rates. SLOWLY.