Taps Coogan – December 3rd, 2021

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The following chart shows the 9-month Core PCE inflation rate since 1959, which has hit its highest level since 1982 and has only been higher during the very worst of the inflation of the 1970s. The most recent reading is in the 84th highest percentile since 1959.

Even with the already announced taper, the Fed’s QE program is still running faster than QE-3, the largest pre-Covid QE program on record and the ‘real’ Fed Funds rate is the most negative on record. What on Earth is the Fed thinking?

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