Inflation: The Fed Becomes an Issue for 2024

Quite a battle is shaping up over the outsized role played by central banks in America’s and other countries’ economic, and political, affairs. The failure to control inflation — witness today’s news that consumer prices rose again at a pace not seen in 40 years — comes at a time of rising concern, as Judy Shelton writes in the Wall Street Journal, that “central banks have become too powerful, too prominent and too political.”