Sidelined by years of over-promising and not delivering, the Federal Reserve may seem to be sitting this one out. Trying to stay relevant with tapering QE, the latter is no longer on anyone’s mind even as gasoline and food prices surge in a way not witnessed in decades. The fight has instead shifted to the fiscal side.
QE is the old “money printing” but after the past year Uncle Sam is the new. Even former current administration allies are throwing in the towel. Maybe those earlier 2021 “rescues” (one under Trump, the other, larger helicopter under Biden) really had been too much as the government continues to do even more.
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