The Less-Publicized Problem
There are more nuances on deck. I have only hinted at the feedback loops, and they are almost certain to persist in ways that are mentioned in the press, only in passing.
First and most obvious: Chairman Powell admits that in some ways, the Fed’s ability to control inflation is limited. This was the point I made in March.
https://youtube.com/clip/UgkxusCHxBDy5IlmehupPDyN_b6VR-3OW9bT