Heterodox
Why the Fed’s present rate hike campaign is almost unprecedented – by New Deal democrat Just how unprecedented is the Fed’s current rate hike policy? Since the Fed started actively managing the Fed Funds rate in the late 1950s, only two other occasions are similar. The reason the Fed is hiking rates is to combat inflation. But, as I have pointed out in the past, the post-pandemic Boom is very similar to the immediate post-WW2 Boom. In 1947...
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