it was never 'transient.' this was a platitude espoused by the fed to assuage rising fears of stagflation. the only way to fight inflation is to raise interes

it was never 'transient.' this was a platitude espoused by the fed to assuage rising fears of stagflation. the only way to fight inflation is to raise interest rates, but since the fed is only now in the next month or so ceasing buyback operations for bonds, its hard to imagine theyll have the momentum within the year to stop the quantitative easing binge thats left the US (and the world) with a corporate credit bubble. tl;dr its here to stay. raising the prime interest rate is the only way to really combat stagflation, but the fed cant do it without triggering a corporate credit crisis.