INTEREST RATE HIKES CAN BE STIMULATIVE?

The 'tourist explains why Powell's tightening campaign has been so ineffective

Lots of folks have been caught off guard by the continued strength of the economy. Back in February I wrote a piece titled “WHY IS THE ECONOMY SO STRONG?” and although there was considerable pushback to the idea that the economy could remain aloft for much longer (don’t forget that back then, most folks predicted recession by this summer), some ideas in…