And this doesn’t include the inflation in prices caused by the Russian invasion of Ukraine. Yet.
US Personal Consumption Expenditures (PCE) price index rose by 5.2% in January, the fastest rate since mid-1983.
With CPI inflation at 7.5% YoY, the Taylor Rule suggests a Fed Funds target rate of 13.35%, higher than the current rate of 0.25%. Overstimulated much??