[alkibiades]

this is really good but let’s not celebrate til the battles over and it’s sustainably back to 2%. well see how it all shakes out in 18 months as a lot of fed tightening is delayed in effects

i think everyone needs to do some reflecting. i certainly need to reconcile why i was so sure that the economy would have to crash from high interest rates in order to stop inflation

one camp seems to want to take credit for inflation falling but ignore the incompetence of it rising in the first place

the second seems to want pretend it’s not coming down when it clearly is.

imo 2 things are undeniable:

1. both transitory (pandemic) and policy errors (overzealous spending and interest rates) caused it in first place.

2. both transitory (base effects of pandemic going away) and policy successes (fed raising rates and congress stopping socialist spending) are causing it to come down