First published by Money Metals Exchange here: https://www.moneymetals.com/podcasts/2024/02/14/the-fed-is-between-a-rock-and-a-hard-place-002990
<p><img src='https://www.moneymetals.com/uploads/content/Between-a-Rock-and-a-Hard-Place.jpg'/></p>The Fed is between a rock and a hard place. It needs to cut interest rates because this debt-riddled economy can’t function in a high-rate environment. But it can’t plausibly cut rates with price inflation still far above its target.