"The Federal Reserve on Wednesday launched its biggest broadside yet against inflation, raising benchmark interest rates three-quarters of a percentage point in a move that equates to the most aggressive hike since 1994."

https://www.cnbc.com/2022/06/15/fed-hikes-its-benchmark-interest-rate-by-three-quarters-of-a-point-the-biggest-increase-since-1994.html

If anyone thinks this "biggest broadside" is going to tame inflation, there is a certain water crossing I'm selling equity in that would definitely interest you.

In order to kill the 70's inflation, Paul Volker raised the rate to 20%, but that is no longer an option today because of the gigantic amount of government debt.

The FED is trapped. They cannot aggressively raise rates because if they even go as high as 5%, the interest debt service alone would bankrupt the Federal government.

So, given the choice between subjecting the great unwashed to continuing high inflation or putting themselves and their fellow oligarchs in the poor house, which do you suppose they will choose?

It is time to embrace our inner Zimbabwe.

https://cdn.shopify.com/s/files/1/0251/2392/products/zimbabwe-banknotes-100-trillion-dollars-front.jpeg?v=1378484099