Inflation Targeting—The Wall Street Pleasuring Scam That Has To Stop

Last week the Fed’s so-called battle against inflation suffered yet another rebuke. Even if we take its favored “core” PCE price index, which excludes the entirety of food and energy, the inflation rate rose by 3.0% annualized in April; and the six-month annualized core PCE price index, which filters out the monthly squiggles, accelerated to […]
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