MSNBC Meet the Press June 4, 2024 08:28:00
Of indicators, if you look at what's happened in markets, if you look at the relative levels of interest rates of different durations, if you look at surveys of consumer expectations and if you look at the simple fact that what drives inflation is supply and demand, supply doesn't change that fast and so mostly what you need to do to reduce inflation is reduce demand. and that is a very hard process to control and so it usually leads to a recession. all of that tells me that while i wouldn't presume to be able to judge the timing, the dominant probability would be that by the end of next year,...