I'm not sure his number one goal is actually to kill inflation. if they wanted to do that they could have moved a long time ago. I cannot for the life of me believe J Powell (and his team at the Fed - literally dozens of PhD economists with the best available data at their fingertips) could be so daft. Blind Freddy could see inflation wasn't transitory. They want inflation and the rate hikes are window dressing - too little too late - the Fed want inflation to monetize their massive $30 trillion plus debt pile. if they take rates to 5% that's roughly $1 trillion a year in interest. It will ultimately collapse the whole ponzi scheme. Fascinating to see how it all plays out from here but I think J P does exactly what he's told and none of it is by mistake.
