“Powell’s interest rate hikes, launched in March 2022, had no perceptible effect on growth or employment, hence no plausible role in bringing the inflation rate down. Monetary policy has become an empty set of rituals.” ~James Galbraith
https://www.ineteconomics.org/perspectives/blog/the-origins-of-the-modern-era-of-the-federal-reserve
https://www.ineteconomics.org/perspectives/blog/the-origins-of-the-modern-era-of-the-federal-reserve
Comments
Front-running the Treasury market, Fed-speak and witch doctoring are all they've got.