'..Another critical characteristic of the earlier inflation era was frequent temporary reversals in inflation, only to be followed by new peaks..'
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(Global Stagflation)(Inflation out of control) - Inflationary Psychology Has Set In. Dislodging It Won’t Be Easy.'..the “Taylor rule,”..'
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'Disaster is a strong but appropriate word that applies perfectly to the state of U.S. monetary policy..' - Dr. Hunt, April 20, 2022
'..policy rates should be raised by at least 100 bps, and the ECB should plan for three rate hikes of 100 bps or more. The ECB has not raised its policy rate for almost 11 years. Let us hope that it remembers how.''Inflation at current levels is a severe economic, social, and political problem – a scourge that disproportionately affects the poor and the financially unsophisticated. So, why are the Federal Reserve, the European Central Bank, and the Bank of England actively fueling it?
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The inevitable and necessary economic slowdown should be engineered earlier rather than later. At each of the next two Fed and BOE meetings, policy rates should be raised by at least 100 bps, and the ECB should plan for three rate hikes of 100 bps or more. The ECB has not raised its policy rate for almost 11 years. Let us hope that it remembers how.'
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Central Banks Are Still Far Behind the Inflation Curve, June 9, 2022
'The consumer price index rose 9.1% from a year earlier in a broad-based advance, the largest gain since the end of 1981 .. Food costs, meanwhile, climbed 1% and 10.4% from a year ago, the largest increase since 1981.''(Bloomberg) -- US inflation accelerated in June by more than forecast, underscoring relentless price pressures .. The consumer price index rose 9.1% from a year earlier in a broad-based advance, the largest gain since the end of 1981, Labor Department data showed Wednesday. The widely followed inflation gauge increased 1.3% from a month earlier, the most since 2005, reflecting higher gasoline, shelter and food costs.
Economists projected a 1.1% rise from May and an 8.8% year-over-year increase, based on the Bloomberg survey medians. This was the fourth-straight month that the headline annual figure topped estimates .. Food costs, meanwhile, climbed 1% and 10.4% from a year ago, the largest increase since 1981.'
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US Inflation Quickens to 9.1%.., July 13, 2022
Context(Global Stagflation) - '..price growth that is continuing to outstrip expectations..'Bundesbank boss warns against ‘fatal’ assumptions in ECB crisis tool(Global Stagflation) - 'Inflation hits record 8.6% for 19 countries using the euro [surging past the 8.1% recorded in May]'