Its the debt they were spending earlier in the year and just invoicing. It causes m1 to incrase which makes it look like inflation is down (Increase in m2 to m1 is the calculation), once money is in circulation inflation goes back up. This "Only one more rate hike" is as much a lie as transitory inflation was.
Its the debt they were spending earlier in the year and just invoicing. It causes m1 to incrase which makes it look like inflation is down (Increase in m2 to m1 is the calculation), once money is in circulation inflation goes back up. This "Only one more rate hike" is as much a lie as transitory inflation was.