Sir Chris Whitty, the chief medical officer, told the Covid inquiry that nobody looking at the way Britain handled the pandemic “could say it was ideal”. A flabbergasted official counsel, Hugo Keith KC, replied: “That is, if I may say so with the greatest respect, quite an understatement.”
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Fed rate increases can t demonstrate the ability to "tame" inflation. Milton Friedman s "lag" is the conceptual crutch that is invoked to explain this ineffectiveness.
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