Interest rate hikes cause inflation!

Turkey lowers interest rates as inflation hits 80 percent

…and the reason:

In a statement following a monetary policy committee meeting, the bank said it decided to reduce the policy rate from 14% to 13%.

President Recep Tayyip Erdogan has pressured the bank into lowering borrowing costs in a bid to boost economic growth, investment and exports, insisting that interest rate hikes cause inflation. That contradicts established economic thinking, with rate increases the traditional tool to target inflation.…

Economics certainly has changed since I studied it!


Indirectly killed a diplomat that was a good friend of mine. He signed up for China’s vaccine.

Erdogan could screw up his own funeral.