Whitney George on the impotence of the Fed's inflation-fighting tools

Today, the Fed is attempting to fight structural inflation over which it has no control.  It did not cause the reversal of China from a deflationary force to an inflationary contributor.  The Fed did not cause the political forces behind deglobalization.  And the Fed had nothing to do with decarbonization goals that have resulted in bad energy policies.  The recent historic 75 basis points rate hike and the next hikes that are expected is akin to administering electroshock therapy to a flu patient.

~ Whitney George, Sprott Focus Trust 2022 Semi-Annual Report, July 20, 2022