Larry Summers is Krugman in drag. Both know less about economics than a bodega owner. That being said, the next move SHOULD be a rate hike. Inflation is still going gangbusters but they won’t do it in an election year. That would hurt the incumbent vegetable.
The Fed has no business doing anything with rates. Their job is to control the money supply, that is all.
“mini-paradigm shift” amusing
A rate hike should be the next move but even with a hike the situation is going to get worse so a political consideration to stay the course or lower might be the reality. In other words, the ship is taking unusual amounts of water so why worry because it only a question of when not if the whole thing starts headed for the bottom.