Thanks to the Fed’s QT, the money supply is shrinking. Despite this, inflation continues. And shrinking the money supply (as the Fed is currently doing) has historically created unintended consequences:
You want to see something scary? Welcome to AI reading your mind. We need guardrails, but the global competing in this area assures the our machine overlords are past the point of conception.
I have now seen all of the films nominated for Best Picture, except Women Talking (looking forward to that film). Some excellent films nominated, but The Whale is the best picture In my humble opinion. Aronofsky at his best; fine acting by all, and wonderful writing by Samuel Hunter. It should have been nominated.
Some surprising numbers when breaking down by state (e.g., more in Colorado support the overturning of Roe than South Carolina), but large majority of Americans want abortion to be safe and legal.
https://www.prri.org/research/abortion-attitudes-in-a-post-roe-world-findings-from-the-50-state-2022-american-values-atlas/
Best explanation so far from the Fed. New Fed publication - the inflationary effects of sectoral reallocation from services to goods with Covid-19:
https://www.federalreserve.gov/econres/ifdp/the-inflationary-effects-of-sectoral-reallocation.htm
Gibson’s Paradox says hold my beer.
The Quantity Theory of Money predicts that there should be a positive correlation between the general price level and the supply of money, but a negative correlation between the general price level and the real interest rate.
However, Gibson's Paradox refers to the historical observation of a positive correlation between interest rates and prices (i.e. a rise in interest rates creates inflation), which is contrary to the negative correlation predicted by the Quantity Theory of Money.
The Fed is hoping the paradox is transitory.