I’d guess massive deficit spending funded in large part by central bank which did not have the cash? Which then artificially sets interest rates, etc. Hot tak

I’d guess massive deficit spending funded in large part by central bank which did not have the cash? Which then artificially sets interest rates, etc. Hot take: Jerome Powell knows the current state is very bad and what he needs to do will be bad. He wants to have the guts to do it. Market/politicians will hate him. We’ll see if he can do it.