Rate Hikes Into An Oil Shock

We lay out why a Fed rate hike during an oil shock can squeeze the economy without fixing the real cause of inflation. We connect the dots between supply-side inflation, government debt refinancing, and why central banks are quietly buying gold while cash holders fall into an inflation trap. • why oil-driven inflation behaves differently than demand-driven inflation • how higher diesel and fertilizer costs flow into food prices and the wider economy • what stagflation means...