One result of the massive monetary expansion was an upsurge in inflation, to a peak of over 9% in 2022—which the Fed infamously termed “transitory.”

When Jerome Powell was sworn in as chair of the Federal Reserve eight years ago, economists worried that inflation and interest rates were too low and that too few Americans had…

When Jerome Powell was sworn in as chair of the Federal Reserve eight years ago, economists worried that inflation and interest rates were too low and that too few Americans had…