The Fed Believes Inflation Will Be 2% in 2023… GOOD LUCK WITH THAT!
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by Phoenix Capital Research
Wednesday, Dec 14, 2022 - 8:23
By Graham Summers, MBA
The Fed will end its two-day Federal Open Market Committee (FOMC) meeting today at 2PM East Standard Time.
The known universe expects the Fed to raise rates by 0.5%. And the current consensus is that by this time next year, inflation will be down near 2%.
It’d be hilarious if it didn’t involve so much suffering.
To understand what I mean by this, let’s wind the clocks back a year to the Fed’s December 15th 2021, FOMC meeting. At that time, the Fed had only just decided that inflation was NOT “transitory.”
Bear in mind, inflation has measured by the Consumer Price Index (CPI) had cleared 5% in June of 2021. It had since increased to over 7% as of December 2021.
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https://www.zerohedge.com/news/2022-12-14/fed-believes-inflation-will-be-2-2023-good-luck