Can I call it or what? No change in Fed policy. No worries – inflation is transitory! Now, does it have anything to do with President Harris getting to appoint a new Fed Chairman in January? Chair Powell will keep his job – no doubt. The fix is in.
Inflation is the most insidious tax of all. Ordinary Americans are suffering now, and they will suffer more in the coming months. But it is the only way out for this government and the Fed. They are trapped.
Armageddon watch? Let’s call this day one.
More later.
A.F. Thornton