Chart via Bloomberg |
The Federal Reserve led by Chairman Jay Powell has bought most of the debt run up by the U.S.government since the start of the COVID-19 related lockdowns.
This is the mad printing of trillions upon trillions of dollars out of thin air.
And even now as the accelerating price inflation becomes more obvious Powell and all his pumpettes voted to keep the irresponsible Fed money printing going.
Voting for the continuation of the money-pumping policy action were all the voting embers of the Fed's monetary policy committee, the FOMC: Jerome H. Powell, Chair; John C. Williams, Vice Chairman; Thomas I. Barkin; Raphael W. Bostic; Michelle W. Bowman; Lael Brainard; Richard H. Clarida; Mary C. Daly; Charles L. Evans; Randal K. Quarles; and Christopher J. Waller.
When the price inflation really begins to rage, don't let them con you into claiming it is just about base- and bottleneck- inflation. As I explained in a recent podcast, it is about much more: The Three Kinds of Inflation That are Going to Blow Overall Price Inflation Through the Roof.
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