Let’s see what CPI or core inflation is in August.

Another Nobel prize winner who is a partisan hack.

Edit: Stiglitz said it was “really important” for the Fed to have normalized interest rates, adding that it was a mistake for the U.S. central bank to have held the benchmark borrowing rate near zero for such a long period since 2008.

Rates were too low for a decade since 2008, more than a decade since rates were super low in 2021. Powell waited too long to raise rates in 2022. A gradual proactive approach would have been better.

Another problem is keeping bank reserve requirements at zero percent. Another way to stabilize the money supply is increasing capital reserves. Banks have a smaller fraction to lend.