Comments by "Daniel Bradford" (@Falconlibrary) on "Fed Chair Powell: Inflation remains too high, and the labor market remains very tight" video.

Powell had to make a choice: protect asset values or fight inflation. He can't do both. He's decided to protect asset values. Which means 6% inflation is with us for the time being, and double-digit inflation within a year or so. Nothing is more ruinous for a society than inflation, which is why 2% was always the target. Senator Warren was right about Powell: he had two jobs, overseeing the banking system and monetary policy, and he's failed spectacularly at both.
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