The Pomp Letter
The Pomp Letter
The Fed Will Claim Victory Over Inflation
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The Fed Will Claim Victory Over Inflation

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To investors,

A key part of the Federal Reserve campaign against inflation is the ability to claim victory. Regardless of whether you agree it should work this way or not, much of monetary policy is driven by narratives. This is why “inflation is transitory” was such an important meme in 2020 and 2021. It was a narrative that allowed the Fed to defend th…

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