This is an excellent article. A must read for anyone who makes the common mistake of assuming higher interest rates means lower inflation.
My July 2023 public newsletter is out now:
https://www.lynalden.com/july-2023-newsletter/
It discusses the topic of fiscal dominance, and how interest rates become a weaker and weaker policy tool as public debt increases.
This is an excellent article. A must read for anyone who makes the common mistake of assuming higher interest rates means lower inflation.
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