& BRIEFLY NOTED: FOR 2022-01-11 Tu: First.... I read...My immediate first response is to ask : In what sense is the Fed supposed to have been "way too slow" in tightening monetary policy? We still are way short of full employment. Some of that is due to childcare and virus-fear bottlenecks. But some of it isn’t. And to the extent that there are important jobs not being done because people can’t afford to make alternative childcare arrangements or fear the virus—well, the inflation that comes from paying people more to see if they will take those jobs is to be welcomed, not fought...
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