If the narrative becomes,' we had to have the recession because we overspent in 2021,' it makes Lakshman Achuthan sort of suspect no relief is coming, i just think that's a mistake all around.

Josh Bivens

A recession actually means The US economy is on average poorer.

We should take advantage of those expectations and that credibility.

Most of the inflation we've seen over the last 15 months has been about extreme distortions the pandemic has put on the economy.

Yanking down on aggregate demand level by raising rates would be a machine gun approach to something that needs a scalpel.

For now, people are unhappy and inflation is why.