It’s interesting how the mind works.
You can look at the below, like say a Paul Krugman, and write a relaxed piece in the NYT about how commodity prices are coming down, and that policy is on the right track, no need to push “too hard” given this good and obvious traction, versus a Kashkari (FOMC member) who thinks that it is simply taking far, far too long to do so…
Same with things like the below.
It is fine to say inflation is from policy, & from supply chain kerfuffles, & that they are debottlenecking as we speak, as indicated by falling freight and shipping rates, versus “at this rate, it’ll be at least another year, assuming present trends continue”, hence we squeeze the brakes through mon pol.
It’s the same data, in both cases, used to justify quite different approaches.
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