Wednesday, October 05, 2022

Heckuva Job, Jerome

Don't know how you solve housing cost (in part) driven inflation by raising the effective cost of housing but, hey...
US mortgage rates jumped to a 16-year high of 6.75%, marking the seventh-straight weekly increase and spurring the worst slump in home loan applications since the depths of the pandemic.
There would be something to "supply side" economics if it actually focused on genuinely increasing productive capacity, not just assuming the tax cut fairy would make it so. Better than this vulgar demand side recession which is destroying capacity!