The year may only be just over three months old, but a lot has happened in relatively short order. And, here we are once more in stagflation territory, with central banks – led by the Fed – probably doing the wrong thing at the wrong time again. Why do I say that? Well, it looks as if the Fed has drained most if not all of the quantitative easing it splurged during the Covid-19 pandemic, yet the bank still insists on fighting inflation with rate rises and potentially more quantitative tightening (QT). These decisions by central banks…
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