What if it is all collateral damage?
"These are the unfortunate costs of reducing inflation." Jerome Powell, 8.26.22
In one day, Jerome Powell cost Americans well in excess of $1 trillion, worse than Congress on most days. That’s how much the stock market fell on the news that inflation crept up by 0.1% from July to August (less than 2% annualized.)
That’s not how the headlines or the hawks played it. Instead, the bold print announced that inflation was running at 8.3%…
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