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User Info 75 bips; entered at 2022-09-20 09:55:00
Posts: 3326
Registered: 2012-04-19 45th parallel
Agreed that the Fed doesn't set policy. When I extend the FRED graph back to the 1980-81 highs I can't get it to show the treasury yield line. Assume Volker was reacting to the market then when rates went up to 19%

If today's inflation is matching what we experienced 40 years ago what is different now that the market isn't pushing the Fed to raise faster to crush the inflation?
2022-09-20 09:55:00