Fed Chairman Jerome Powell did the right thing and poured cold water all over markets, affirming a tight US monetary policy until inflation goes back to around 2%. Kudos, and good for the average working American who is seeing his/her disposable income evaporate under the highest inflation in 40 years.
Back in Europe, Mrs. Lagarde is immobile like a deer caught in the headlights of a truck. Only, the truck (soaring inflation) has already hit her, so it’s probably better to remove her and replace her with a real central banker of acknowledged status.
Super Mario (Draghi) is once again available 😄
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