Fed still saying inflation is transitory
... despite, many say, many indicators like rising house prices, rents, wages.
"Yes, you need to fight the Fed," Komal Sri Kumar said this week, which is the opposite of what most stock investors say and have been saying since the Pandemic. "Because the Fed cannot win at all times.
"We have had times in history when the Fed goes to extremes, it doesn't anticipate what is going to happen, and then the whole thing fails.
"One example was effort to keep interest rates, bond yields under control during the 1940s, early 50s, and it just collapsed.
"2008, Fed did not foresee the crisis."
Many countries have been hiking rates but not in the developed world.