That's not true. The current bout of inflation is broad-based. Just because as few components dominate headline inflation readings does not mean that prices are not rising in general. See my https://policytensor.substack.com/p/how-broad-based-is-inflation.
Neither party is willing to raise taxes nor cut spending. That unfortunately leaves monetary policy as the only tool to combat inflation (which is broad-based and regressive).
Why do they need to tighten. The inflation is 3 things gas, trucks and meat. Tightening should come with tax raises on wealth.
That's not true. The current bout of inflation is broad-based. Just because as few components dominate headline inflation readings does not mean that prices are not rising in general. See my https://policytensor.substack.com/p/how-broad-based-is-inflation.
I am skeptical of this. Think it’s mainly supply chain induced And there are other ways to combat inflation than raising rates.
Neither party is willing to raise taxes nor cut spending. That unfortunately leaves monetary policy as the only tool to combat inflation (which is broad-based and regressive).