“The sense that yes, this is enough, means that Fed policy will depend on the kindness of strangers. Since the Fed funds rate currently is not above inflation, the Fed’s view will continue to be that inflation is going to fall by itself. When inflation has been this far out of control, I do not see this as an aggressive remedy. This is more like the halfway, what-the-heck policy that got us into this mess in the first place.”
USAGOLD note: Something that needed to be said…… Policy reduced to a coin flip.