Economist James K. Galbraith has an urgent message for American workers: 'The Federal Reserve is not your friend.'
Inflation rates are reported on a 12-month basis, so once any shock hits, it is guaranteed to generate headlines about"inflation" for 11 more months—a boon for the inflation hawks. But since
in December were about the same as they were in July, the initial shock will be out of the data in a few months and the inflation reports will change.of more expensive energy will continue to percolate through the system. That's unavoidable. Whenever there is a structural change like an increase in energy costs or a reshoring of parts of the supply chain,"inflation" is.
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