The Fed doesn’t have many responsibilities. Controlling inflation is right up there at numero uno. Yet, not only did it fail to see the inflation it was causing…and then misdiagnose it as ‘transitory’…now, it has no idea of how to get the cat back in the bag.
It’s time we tackle the most important, and possibly most dangerous, factor in the world of finance — China.
In today’s Money Morning…it’s been pandemic déjà vu over there…high gas prices are making green hydrogen more attractive…there’s another factor that could bring green hydrogen costs down…and more…
We promised to explain the real reason for the US’s meddling in the affairs of the Eurasian steppes. This will require more space than usual, but we will just continue connecting the dots until we get a better picture.
In today’s Money Morning…the digital revolution…the next digital device…our worst decisions will be only a thought away…and more…
As expected, the Fed raised its inflation-adjusted key rate from around MINUS 7.7% to around MINUS 7.5%. And the plan is to keep raising it until it reaches MINUS 5% by the end of next year.
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