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MarketWatch/Robert Brusca/5-4-2022
“Last year, when inflation rose, the Federal Reserve not only did not expect it — it denied its existence. Denial gave way eventually to recognition, but recognition led to procrastination, and eventually that gave way to action.”
USAGOLD note: And that “action” might be thought of as inadequate if you happen to occupy the school of thought that says the prevailing interest rate must exceed inflation in order to bring the latter under control. Please see: “Real rates: How exactly do you measure reality?”
10-year Treasury yield vs. the headline inflation rate
Chart courtesy of TradingView.com
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