> The simplest reason I believe we won’t have a repeat of the 1970s inflationary spiral is because Fed officials have studied that period and the mistakes made

> The simplest reason I believe we won’t have a repeat of the 1970s inflationary spiral is because Fed officials have studied that period and the mistakes made by their predecessors. There are no mistakes to be made because the Fed is a talking organization only. It stopped trying to regulate money decades ago. Bank reserves are the only thing it can control, and they have very little effect on the real economy. The Fed raises and lowers interest rates, begins and ends QE, to exactly the opposite effect of what's purported and nobody comments on it. Here's the real reason this isn't the 1970s: the bond market is telling all of us so. The bond market is telling us that inflation is about to fall and fall hard. The yield curve is inverted all the way up to the 3 month. Inversion has been the norm for months now. Inflation will roll over and the Fed will have had nothing to do with it.