Commentary
The economy is red-hot, at least according to most. After all, why else would the U.S. Federal Reserve publicly announce a near-historic rush to hike its benchmark rates? Consumer prices have been painfully rampaging for a year, and the stated purpose of hiking is to cool everything down in order to regain control over them.
Since consumer prices are going nuts in other places around the world, one might presume the entire global economy is as heated, or nearly behind, the American slice. And that, like what’s really behind rate hikes, would be a mistaken presumption in every sense.
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