Things are only getting harder for the Fed

Financial Times/Kenneth Rogoff/3-18-2023

graphic image of chickens coming home to roost“It is far easier to hold off political pressures in an era where global interest rate and price pressures are pushing downwards. Not anymore. Those days are over and things are going to get harder for the Fed. The trade-offs it faces next week might only be the start.”

USAGOLD note: Rogoff explains that a great deal has changed since the financial crisis of 2008 – different times, different set of circumstances. The Fed’s inflationary chickens have come home to roost.

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