kirk asked:
<<IF the FED had stopped raising rates at 4.0% as Brinker advised them to, do you think core inflation would have peaked at 2.9% then fallen to the current 1.8 or 1.9% level, the high end of the Fed's target zone, as it has?>>
my answer:
--I don't know (being an idiot, how COULD I know)?
kirk's response:
<<IF you can't answer that question, then.....
Why don't you TRY to answer the question honestly?>>
my answer:
--OK. Here is my honest answer. If I had never heard of Brinker, I would have thought that if oil moved into the 80s and stayed there for a while, that we would have had higher inflation even if the fed DID raise rates.
I would have thought that the price of oil would have affected gasoline prices, heating oil prices, and spilled over into all parts of the economy due to higher transportation costs, etc.
I would have been wrong, just as you were wrong. The only difference is, *I* would have admitted I was wrong. In fact, I admit it now--I was wrong, and Brinker was right!
I never dreamed that oil could go into the 80s, and stay there, and that inflation could stay at 2%. |
