For many across the world, the U.S. Federal Reserve’s decision to exit the Network for Greening the Financial System (NGFS) is a sign that central banks can refocus on their primary mandates: stabilizing economies, controlling inflation and fostering growth.Developing nations that need financial backing for the development of fossil fuel projects to advance economic development hopefully can look forward to a reversal of the vacuous injection of a climate change agenda into monetary policy. This … [Read more...]
Inflation and “Inflation”
The federal Bureau of Labor Statistics reported today that year-on-year “inflation” through June was 9.1 percent, meaning the basket of goods constituting the “consumer price index” (CPI) that cost $100 a year ago cost $109.10 last month.That’s bad news, for several reasons.First, of course, it’s bad news because it means life gets tougher for everybody whose income isn’t enhanced by precisely those things that drive such “inflation”—meaning the vast majority of people.Second, it’s bad news … [Read more...]
