Fed's estimate of current, forward inflation < 4.5%, roughly

I placed the order for the 10/20/22 auction on 10/17/22 at Fidelity. Fidelity does not charge for executing Treasury auction orders. They charge $1 per $1,000 bond for secondary market orders.

Wendy

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yeah Jerry Ford’s WIN Buttons didn’t have much impact controlling inflation…lol

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The Wall Street Journal is catching up…

A 2013 re¬≠view by Tomas Havranek and Marek Rus¬≠nak of the Czech cen¬≠tral bank of dozens of ear¬≠lier pa¬≠pers con¬≠cluded the max¬≠i¬≠mum im¬≠pact on in¬≠fla¬≠tion takes two to four years in ad¬≠vanced economies. In the U.K., a 1 per¬≠cent¬≠age-point in¬≠crease in the pol¬≠icy rate re¬≠duces out-put by 0.6% and in¬≠fla¬≠tion by up to 1 per¬≠cent¬≠age point af¬≠ter two to three years, ac¬≠cord¬≠ing to a 2016 pa¬≠per by James Cloyne, then of the Bank of Eng-land, and Patrick H√ľrt¬≠gen of Ger¬≠many‚Äôs Bun¬≠des-bank.

And a bit more, if I don’t run afoul of Copyright:

For cen­tral banks, start­ing to raise rates was hard; know­ing when to stop may be harder.