MarketWatch/Robert Brusca/6-11-2022
“When I read that, knowing Blinder’s politics, it reads to me like saying the Fed is not going to stomp out inflation. It will raise rates to try to deter and lower inflation (and cause the Fed to seem responsible in the process) but it will allow inflation to linger (that’s the ‘don’t expect miracles’ part) rather than to reduce inflation to target expeditiously.”
USAGOLD note: Importantly, Brusca puts in words what many are thinking about what he calls a “politically motivated” Fed. In so doing, the former Fed economist offers some very clear thinking as to where policy and the economy might be headed in the future.
