by Paul Craig Roberts, Paul Craig Roberts:
The Federal Reserve has a long record of mistaken decisions. Unless the Federal Reserve’s intent is to collapse the economy, the current policy of higher interest rates will go down as the most mistaken reading of the economy since the Great Depression.
Prices are rising sharply in Germany, UK, and Europe, but not because of an increase in money creation. They are rising because US Sanctions against Russia have reduced the supply of energy and disrupted transportation. Supply reductions have driven up prices of everything dependent on energy and transportation.
“Housing market will have to go through a correction … to where people can afford housing again”: Powell
Sockpuppets.
