The New York Sun/Lawrence Kudlow/6-16-2022
“We ballooned the M2 money supply by 40 percent. We bought nearly two-thirds of the bonds sold by President Biden’s $2 trillion rescue package — and that was a huge mistake. That’s what has caused the inflation. I keep looking for that acknowledgment, but I don’t see it. So I’m going to assume that this was some kind of immaculate miracle. We’re going to call this ‘immaculate inflation.’ It apparently had no real cause. It was just a gift from heaven. But it’s not the Fed’s fault.”
USAGOLD note: Post-Fed, Kudlow at his best……
