“On the one hand, the Fed acknowledges higher commodity prices and rising inflation. Yet they go on to say that inflation trends are "subdued" and inflation expectations are "stable" - and those are the exact words they use. I mean, what can they possibly be looking at to reach those conclusions? Then they say that they will keep interest rates low, but the reality is they need to be raising interest rates to fight the growing inflationary pressures, just like Volcker did when he was Fed chairman thirty years ago.
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