Hints and tips:
...There is for sure a debate to be had about when the Federal Reserve et al should have pivoted their stance more forcefully to tackle inflationary pressures, and what they should and shouldn’t do now....
...We followed along with FDR, Eisenhower, JFK, Reagan, Clinton and Bush et. al in their postwar course because we wanted to or had to: there was no alternative worthy of considering or competition....
...Moreover, the Federal Reserve has done so without formally acknowledging any of the considerations invoked by the Treasury....
...It makes for depressing reading, not least because the Federal Reserve and the government, which rescued the economy, have been turned into the story’s villains....
International Edition