US inflation jumps to 31-year high amid global supply chain crisis

Re:US inflation jumps to 31-year high amid global supply cha... by adam_arthur on Wednesday November 10, 2021 @12:18PM (#29177274)

Because Powell wants to get reappointed.

It really has to be that. There's no other logical/sane justification for it. Fed is monetizing govt deficit spending and artificially suppressing long term rates to support asset prices to make things look good in the short term.

On a risk adjusted basis, it's obviously awful policy.

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Re:US inflation jumps to 31-year high amid global supply cha... by mywittyname on Wednesday November 10, 2021 @12:39PM (#29177561)

Powell should have never been appointed.

The only reason he was is that Yellen was recommending a raising of interest rates in 2018 and the sitting president was worry about the optics of that going into reelection. In comes Powell, the man willing to kick that can down the road.

Raising interest rates was the right move in 2018. It's just that the economic benefits of doing such takes a few years to pay off.

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