Ah classic wsj opinion pieces. Where their opinion columnists also said inflation would be transitory and we need more inflation. not less. They don’t realize the housing market in Netherlands, Canada, Australia are far worse. How come?
They forget much like their “expert Economists” like those scumbag Fed governors and Nobel laureate Paul Krugman - they had loose monetary policy for over a decade. The right time to raise rates were 2012 when asset bubbles were still not so bad, not after 2021 when finally wages started to catch up just for once. But oh no, wages can’t rise, we need to finally raise the rates now. INFLATION they screamed finally. All along ignoring asset inflation. Ever wondered why house prices aren’t part of their “hedonic inflation measure” whatever that is?
They forget much like their “expert Economists” like those scumbag Fed governors and Nobel laureate Paul Krugman - they had loose monetary policy for over a decade. The right time to raise rates were 2012 when asset bubbles were still not so bad, not after 2021 when finally wages started to catch up just for once. But oh no, wages can’t rise, we need to finally raise the rates now. INFLATION they screamed finally. All along ignoring asset inflation. Ever wondered why house prices aren’t part of their “hedonic inflation measure” whatever that is?
https://www.bloomberg.com/news/articles/2019-03-21/powell-ai...