How The US Made Inflation Worse

Not a bad primer video from CNBC on the Fed's policy mistakes, which we all are now, literally, paying for.

I would add that monetary policy is a black box, mainly because we can't define the money supply, much less measure it. Using your brokerage account to write checks to pay for gas and groceries, for example, shouldn't it be counted as part of the money supply? Ditto for crypto, among others

The two following money quotes from the video above could have been lifted straight from the Global Macro Monitor.

• "If we were actually measuring inflation in ...