14 Jul 2022 4:41 pm
Inflation is ALWAYS a monetary phenomenon. Too much money was pumped into the system by senile Joe and a clueless Fed. The only way out is to raise interest rates at least to the level of the core inflation rate. The faster this is done the sooner inflation will end. Will this cause a recession? We are already in a recession. Auto loans are defaulting and some are only paying interest on their mortgage. When Volker raised rates under Carter the housing and auto companies were the first to collapse. Unemployment went to %9 and rates went to +%12. We have gone through this scenario before. Raise rates to %6 as soon as possible. Joe Biden wants to raise taxes and spend more so inflation will not quit until unemployment goes through the roof.