Yellen just admitted that she didn’t read the tea leaves correctly in 2021. The fed should have been raising rates much earlier. Anybody not committed to denial knew that serious inflation was coming even a year ago. It was not likely to be “transitory” and why people thought it was, is beyond me. At this point, raising rates is a less effective tool. Getting inflation back under control is going to be painful. Yes, we’re headed for a recession: one that was probably avoidable. Let’s hope the coming storm is not a cat-4 hurricane.
vegburg almost 2 years ago
What should the Fed be doing Matt?
cmxx almost 2 years ago
I saw this toon as intimating that the US has a lot more problems than the Fed can fix, not that the Fed can and should fix them all.
guyjen2004 Premium Member almost 2 years ago
Yellen just admitted that she didn’t read the tea leaves correctly in 2021. The fed should have been raising rates much earlier. Anybody not committed to denial knew that serious inflation was coming even a year ago. It was not likely to be “transitory” and why people thought it was, is beyond me. At this point, raising rates is a less effective tool. Getting inflation back under control is going to be painful. Yes, we’re headed for a recession: one that was probably avoidable. Let’s hope the coming storm is not a cat-4 hurricane.
jvscanlan Premium Member almost 2 years ago
And of course it’s all Joe Biden’s fault just because . . .
Detroit Dan almost 2 years ago
Shouldn’t the gouging drop be bigger?