Today on The Macro Show, our analyst Josh Steiner discussed the complexities of global supply issues and how the Fed’s overly accommodative monetary policy bears most of the blame for record levels of inflation.
“If you look back through history, the monetary is generally the component that ultimately really matters,” notes Steiner.
“The primary impulse has been the monetary component. The supply chain component was definitely an overlay on top of that for sure, but you printed money at the fastest rate EVER. Like in history. If you don’t have the ability to create a production response of the equivalent magnitude, Obviously, you are going to end up with higher prices.”
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