The Fed Has Lost Control of Inflation

We think that the fed has lost control of inflation. They've lowered mortgage rates to an all time low, and now housing prices are up 20 %. In phoenix a that their rents are up 23 and a half%. So it would be more like 13 than phoenix. On a run rate basis, the b l s estimates of five point four, we're getting right around ten. It can be worse. The Fed got away with quantitative easing after the financial crisis. As we had four million extra home swe huge. But this time we have normal construction and no excess housing. That's why you're seeing this accelerated inflation.