Oil Shocks, Inflation And Why The 1970s Playbook Has Its Limits
· seekingalpha.com
The Fed's tools are designed to address excess demand, not disrupted global supply chains or geopolitical embargoes.
Khanchit Khirisutchalual/iStock via Getty Images
By Jim Iuorio
“Inflation is always and everywhere a monetary phenomenon.” - Milton Friedman.
In the firs...