from Zero Hedge
Two years ago, we first said that it’s only a matter of time before the Fed admits it is unable to rsolve the so-called “last mile” of inflation and that as a result, the old inflation target of 2% is no longer viable.
At some point Fed will concede it has no control over supply. That’s when we will start getting leaks of raising the inflation target
— zerohedge (@zerohedge) June 21, 2022
Then one year ago, we correctly said that while everyone was paying attention elsewhere, the inflation target had already been hiked to 2.8%… on the way to even more increases.