Maybe just maybe this is an attempt to get back to 2% inflation target and also undo all the accumulated inflation that was above those 2% and get back on track 😂
Discussion
Maybe, just maybe, it’s an attempt to make inflation double digits because three whole companies (most likely too big to fail banks) will be the only ones left to provide products and services to every industry. You can’t print supply chains. 🤷♂️
If he would reverse then it makes money cheaper, nudges economy and drives inflation up again. Unless there is massive productivity and manufacturing gain that would offset it. I don't see any easy way out of it.
Preston, what would you do as a Fed chairman considering that you can't resign?