No one can say that the Federal Reserve can’t do the impossible. At long last observers from across the political spectrum agree on one thing – that Jerome Powell and the Fed are well behind the inflation curve and have a lot of catching up to do.

When interest rates go up, many analysts start to worry about recessions. That’s not wrong to do, after all Federal Reserve rate cycles are important.

Inflation is a political lightning rod. As a result, there is a good deal of misconception around it.