The Fed has been so wrong, in so many ways, for so long, we need to ask some pointed questions.
by Mike ‘Mish’ Shedlock
Q&A on Fed Transitory Statements
Q: If inflation picks up will the Fed say I made a mistake or will they double down?
Q: If the Fed doubles down will they admit their mistake or will they say let’s overshoot to make up for past inflation?
Q: If the overshoot continues, will the Fed say dammit wrong again or will they say better 10% inflation than 10% unemployment
I believe we know the answers to those questions, paraphrased from the Eurointelligence post Should we worry about inflation?