“Inflation Forecasts Aren’t Worth the Paper They’re Written on”: This Is about the Bank of Canada’s Reaction to Inflation, But it’s the Same in the US and Everywhere

by Wolf Richter, Wolf Street: “Why the current tightening cycle is unlike anything we’ve observed in the past.” When Canada’s Consumer Price Index for May was released a couple of days ago, it was – “as expected,” I would say – a lot lot worse than expected, and exceeded once again by a huge margin […]