said, I see signs that the economy's slowing, but there's no signs of recession. And you know what Bernanke was most concerned about in February of 2008? Inflation. He said inflation is going to be our problem now because oil prices were out $100 a barrel and they were contemplating the market was actually pricing in potential rate hikes because of the high inflation. And his main concern at that time was inflation. And we were basically six months ahead of catastrophic deflation. So here we are again, where inflation is very high, it's way too high. It's obviously being impacted by supply issues, geopolitical issues, and also the lagged effect of economic growth. So the Fed has to bring down the rate of inflation, but because of the lag nature of it, by the time they see that inflation is coming down in the CPI, that means the economy will have already been slowing for a year. And that's what we're seeing now. So I think that while the current headlines are about inflation, the (54/57)
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