Fed should make clear that rising profit margins are spurring inflation | Financial Times

This guy is a dumbass.

However, Powell’s public remarks offer little insight into how he expects higher rates to tame inflation.

Later:

Despite negative real wages, consumers have carried on consuming. Strong post-pandemic household balance sheets have allowed lower savings and increased borrowing to offset the sorry state of real wages.

Gee, I wonder if increasing interest rates would have any effect on borrowing.

Ending Fed chair Powell’s sphinx-like silence on what higher rates are supposed to achieve could help turn around the inflation story.

Why isn't the Fed chair explaining the Econ 101 reason for why he expects raising interest rates to curb inflation?

The dude also hints at price controls, which is great if you want to turn inflation into shortages, a black market, and even more inflation.