atomicpoet@HistoPol Things change quickly in a year. There was doubt that the Fed would be able to maintain interest rates like this for so long. People thought that Jerome Powell would fold under political pressure.
But what’s happened over the course of the past year is that the U.S. dollar has pretty much made everyone their daddy – even as inflation proved stubborn.
Jerome Powell wanted capitulation. And it looks like he’s getting it.
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