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Fed Fails To Curb History’s Most Aggressive US Spending Recovery
The Fed has a narrative. They have a lot of narratives, actually. But an oft-repeated talking point says rate hikes have worked on interest rate-sensitive sectors of the economy.
The reason policymakers find themselves parroting that line over and over again is simple: It's not obvious that rate hikes have had much of an impact in the US. It's possible that policy settings, despite the most optically aggressive rate-hiking campaign in a generation, actually aren't all that restrictive, if they'
The Kocic quote you posted at the end of your previous piece was terrific, as was the double chart toward the end of this post. Pure irony (IMO)
Occasionally, I see something, a sentence a paragraph or something like it, that instantly causes me to see, inside my head, a cartoon-like image that won’t go away. As a result of this present post and the one before it, concerning attempts by Xi and the Fed, respectively, to control their economies, the image that came to mind was that of several “Big Ass Fans” [real product] up in the ceiling of a large room turning faster and faster until suddenly all the blades of all the fans just fly off in all directions destroying everything in their path. Somehow, I have this feeling that our metaphorical fans are just about ready to come apart and take our still tidy-ish world with them into total chaos. Just sayin’.