re: Powell: Fed can maintain higher rates for "as long as needed"

quote:

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Enter Paul Volcker who proceeded to raise rates through the roof, causing a recession

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It's like taking medicine with side effects


It's likely going to take some level of recession to get us out of this. My suspicion is as you mentioned politicians can't stomach that so they likely keep trying to kick the can down the road as they are now prolonging and perhaps worsening the damage. The might allow a mild recession but that's about it