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On the one hand the US central bank is battling seemingly intractable inflation. Generational records are being broken in the velocity of inflation.
The completely unenviable position that the Fed is in
Updated: Mar 16, 2022
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Great post, thank you! I keep getting the sense that the current inflation scare is just a bigger version of the 2008 inflation scare before the big wave of deflation. Ever since then, the deflationists would come out of the woodwork every time markets felt the slightest stress, but this time they're basically extinct. With everyone hyper focused on inflation it would not surprise me a bit if we're on the verge of some serious deflation.