by Paul Craig Roberts, Paul Craig Roberts:

The Federal Reserve is not conducting an anti-inflationary policy.  It is conducting an anti-people policy. 

The rising prices are not due to excessive consumer demand that needs to be curtailed by choking off credit.  The rise in prices are the direct consequence of the idiot Biden regimes’ unnecessary Covid lockdowns and the idiot Biden regime’s Russian sanctions which have disrupted the globalism on which the Washington fools have based our economy.  Putting people out of work cannot prevent higher prices due to supply constraints.  The Federal Reserve is causing higher prices by further reducing supply.