Financial Times/Mohamed El Erian/4-12-2022
Cartoon courtesy of MichaelPRamirez.com
“The situation is particularly acute for the Fed given its gross mischaracterisation of inflation for most of last year, together with its failure to act decisively when it belatedly recognised that price instability had taken root under its watch.”
USAGOLD note: Has the Fed really strayed that far from its original thesis that inflation was transitory and would simply go away? As we have said in the past: Take to heart what the Fed does, not what it says.
