Well, here’s the latest.
The money quote:
The Fed’s war on inflation begins this summer, when its interest rate hikes and its public statements start to affect inflation. If inflation goes up over the next few months and then declines in the summer, the Fed will have proven itself farsighted. If inflation keeps going down and then the economy crashes midway through the year, the Fed will have proven itself about as competent as a Russian general.
-IGU-