, Columnist
Has the Fed Given Up on Fighting Inflation?
It’s doing exactly the opposite of what’s needed to get prices under control.
Don’t let go.
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Many years ago, the country singer Carrie Underwood had a popular song about a driver who hits a patch of black ice. She responds by letting go and praying “Jesus, take the wheel!”
Apparently, the U.S. Federal Reserve has adopted the same approach toward inflation.