The 10-year US Treasury note has averaged BELOW average inflation for three consecutive years, and is set to make it four.
This is unprecedented, and shows that the authorities have not been serious about fighting inflation. Inflation is actually what they want when the country is $32 trillion in debt, aka a devaluation of the liability.
Notice that they actually tried this for a couple of years in the mid-1970s, after which all hell broke loose with the highest inflation on record and the people revolted. We got Ronald Reagan as a result.
Inflation is the same thing in the world of money as immigration is in the world of labor. Inflation devalues what you owe, and immigration devalues what you make.
You are just collateral damage.
Powell, a Republican, was elevated to the Fed by Obama, appointed to the Fed chair by Trump, and reappointed by Biden.
The Uniparty.
