The Fed is now hemmed in by a rising risk of stagflation. It doesn‘t know where the economy is headed, or is unwilling to take a position. At this point, “hope for the best” is Fed policy.
You May Also Like
Editor's Pick
Swaminathan S. Anklesaria Aiyar India and Pakistan are in danger of starting another armed conflict. India may attack Pakistan after accusing its neighbor of...
Editor's Pick
Michael F. Cannon, Krit Chanwong, and Dominik Lett Medicaid subsidizes medical care for low-income individuals and long-term care for many not-so-low-income individuals. After Social...
Politics
Why do cultures degenerate? Robin Hanson cites biological factors, but Mises and the Austrians point directly to purposeful choices.