From excessively easy to excessive tight US monetary policy

It is therefore not surprising that bank problems are now arising. It is a completely natural consequence of the massive monetary tightening.

Given the insane expansion of the money supply in 2020-21, there was no way around tightening monetary policy. It is now quite clear that the Fed has overdone it.

It is therefore now very difficult to see how a recession in the US can be avoided. The damage has been done.
The Market Monetarist 29 March 2023


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