My Cromford access has been restored. I can now bore you with housing statistics.
The Fed will burn down everything until they get inflation under control, no asset is safe.
The overall tone of the minutes suggests “the Fed upgraded the inflation problem to a five-alarm fire,” said Omair Sharif, an economist and head of the advisory firm Inflation Insights LLC.
As a result, the minutes also revealed officials’ growing acceptance that fighting inflation might lead to higher risks of a recession, but they saw that as “a cost they’re willing to pay,” said Michael Feroli, chief U.S. economist at JPMorgan Chase.
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