That's exactly the point to understand. Rates hike cannot fix this kind of inflation
The Fed can hike interest rates all it wants, it's not going to make it rain in Brazil, open ports in China, find truck drivers in the UK, change covid-0 policies in Australia. Bet that the Fed will hike rates if you want, but don't bet it will help this supply-driven inflation.
10:23 PM · Oct 1, 2021