The Fed’s inflation promises are simply not credible
The present morass stems from both sides of the supply-demand scissor.
The cost of shelter is about one-third of the consumer price index. The longer inflation sticks above 8%, the more likely higher mortgage rates will have to reach 10% to break housing inflation.
Peter Morici MarketWatch 3 August 2022
https://www.marketwatch.com/story/the-feds-inflation-promises-are-simply-not-credible-11659490115
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