PETER HITCHENS: Some of these admonitions are so needless that I am amazed that anyone thought it wise to display them. Some of the instructions are stupid.
thank you for having me. mike: has the fed been too slow to respond to inflation and what s the impact of the recent rate hike and potential upcoming rate hikes? so the fed has been very slow. indeed, i think this whole mess is self-inflicted. so obviously we needed some liquidity at the height of the covid panic and the fed provided that liquidity but then we quickly recovered. stock markets went all time highs. unemployment was decreasing yet the interest rates were zero and it didn t make any sense and we could see inflation building, continue to build. the fed was in denial, denial, it was temporary and then finally they retired the word temporary, indeed, right now it s too late. mike: let s show sorry, go ahead, sir. you think about the comparison to the 1980 s
Skyrocketing asset prices are great for hedge fund managers and Wall Street types, but they increasingly drive ordinary people into unsustainably large amounts of debt