These are the direct words from Jerome Powell at his recent ECB forum appearance, ‘We now understand better, how little we understand about inflation.’
According to nearly 70% of leading academic economists polled by the Financial Times earlier this month, the US economy will tip into a recession next year.
From here, the biggest question is just how quickly inflation falls back to a level that is acceptable for central bankers to take their foot off the monetary brake.
while everything is still doom and gloom out there, remember that miners, battery manufacturers, and automakers are still scrambling for battery metals.
The Fed actually did it... They raised interest rates by 75 basis points. A statement designed to (once and for all) try and get inflation under wraps.