Nov'22 FOMC Digest

Is this Day 1 of The Great Pivot?

What happened before?

In my Sep’22 FOMC digest, I highlighted that it appears that Jerome Powell…

1. Does not seem to acknowledge the difference between Monetary Inflation and Dearth Inflation: He justified stricter monetary policy with energy shortages due to the Ukraine war, which is a classical example of Dearth Inflation (true scarcity of certain product…