The only thing Jay is doing about inflation is making sure everyone thinks he's doing something about it, while making sure there remains plenty of spread for his pals to trade off it.
Currently the spread is 5.12: Inflation at 8.2 minus an effective funds rate of 3.08. This is a golden opportunity for the banksters and everyone down the food chain until it reaches you. The banks are getting rich off it. Wall Street is getting rich off it. Corporations are getting rich off it. And, of course, the stock market investor parasites are getting rich off it.
You get left holding the bag of all the price increases jacked up under the guise of the general condition.
Three years ago there was no spread: -0.03. Nothing there to exploit.
The banksters LOVE LOVE LOVE this inflation:
Bank of America said Monday that quarterly profit . . . topped expectations on better-than-expected fixed income trading and gains in interest income . . . third-quarter profit fell 8% to $7.1 billion.
The bond market is not happy.In Rama a voice is heard, lamentation, weeping, and great mourning . . ..
