That's well beyond my area of expertise. We might have to loop @TomK in for that question.

Do you think eurodollar market could be filling some of the money supply void of domestic dollars?

grayruby

I was a little surprised when I first saw that the money supply was shrinking, because CPI was still well above the target level. It does seem like the landing will be pretty hard when prices finally catch up to the money supply.

Undisciplined

econ

Why the Falling Money Supply Hasn't Yet Created Big Job Losses

I definitely misjudged how long this stuff takes to filter through the broader economy. Just as people who think a soft landing is being achieved maybe are also discounting the amount of time it will take for 18 months of hikes to filter through the economy. People don't typically change their lifestyle until forced to. 