The Fed Will Soon Be Done Tightening

nflation is mostly a supply problem, and these problems are difficult to tackle with demand policies but are sorting themselves out.
There are few signs that inflation is becoming ingrained in expectations or risking a wage-price spiral.
The steep fiscal and monetary reverse needs time to work through the economy, and signs are already plenty that they are starting to work.
With very high debt levels and the perilous state of the world economy, the risk of further tightening is increasing by the week.
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