Let’s say you wanted to design a program to lower inflation. Wouldn’t you do exactly what Federal Reserve Chair Jerome Powell is doing? You would be raising rates aggressively, and I defy you to say that he isn’t doing just that. You would ignore positive numbers like the weak consumer price index print last week by sending out Chris Waller — one of the more hawkish Fed governors — this past weekend to say that the interest rate hikes are far from over. You would claim no victories whatsoever, including the collapse of the cryptocurrency exchange FTX, which filed for ban …
