Ahead of the Tape
Best Check</br></br>On Inflation:</br></br>Broken Banks</br></br>With the Fed training a monetary fire hose on the financial system, many in currency and other markets are getting itchy about inflation. But without an effective fix for the banking sector, they are likely getting ahead of themselves.</br></br>Inflation may be a monetary phenomenon, to paraphrase Milton Friedman, but money is only inflationary if it gets spent quickly. Right now, it isn't getting spent very quickly at all.