If Donald Trump were still president, he’d be shredding the Federal Reserve. President Biden, for his part, is keeping his mouth shut. But he can’t be happy about a gloomy Fed that refuses to celebrate the steady improvement in inflation.
On Dec. 13, markets rejoiced as the monthly inflation report showed a better-than-expected decline, from 7.7% annualized inflation in October to 7.1% in October. The details were broadly encouraging. The price of goods was stabilizing as Americans…
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