Weekly

October 12, 2024   Without wanting to take anything away from a Fed which, if nothing else, did demonstrate the intestinal fortitude not only to sustain rates at 15-year highs in the face of a mini-banking crisis last year, but in fact to keep raising rates thereafter, America still has an inflation problem. Maybe, at this point, it's more accurate to say the world's largest economy has a high prices problem. Inflation, on a strict definition of the term, is nearly back to 2% on a headli