Focus on the Money, Not Rates

Focus on the Money, Not Rates

April 25, 2022

No one can say that the Federal Reserve can't do the impossible.  At long last observers from across the political spectrum agree on one thing – that Jerome Powell and the Fed are well behind the inflation curve and have a lot of catching up to do.  These days, that's virtually impossible.

Consumer prices are up 8.5% from a year ago, the largest increase since 1981.  And while the Fed is talking tough and lifted the funds rate by a quarter percentage point in March, monetary policy remains very loose.

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