Boo This Man!
Inflation was transitory. We held interest rates low because inflation was transitory. Inflation isn't transitory. We're still not raising rates yet.
Do I even need to say it? We were told for roughly a year that inflation would be “transitory.” The inflation being transitory was literally the reason the Federal Reserve gave for not raising interest rates to combat the inflation. We finally get an admission that inflation isn't transitory this month. Inflation continues to be completely out of contro…
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