The Fed Fears Inflation While Ignoring Deflation

Commentary Last week, the Federal Open Market Committee (FOMC) met and decided they want to defy: (1) President Trump, (2) Treasury Secretary Bessent, (3) deflationary forces, (4) lower Treasury yields, (5) surging new unemployment claims, and (6) collapsing global interest rates by holding key interest rates steady. That doesn’t include: (7) the cost of servicing […]