“I would say to people who are setting prices: Please understand if we get inflation embedded interest rates will have to go up further.”
Gov's tools for reducing inflation:
next... lower prices by law
Actual tool for reducing inflation
Credibility is laughable right now. As if they want to bring down inflation in the slightest. Keep raising rates you donkeys, something you should have done decades ago.
Reminds me of when Zimbabwe made inflation illegal.
In that case, instead of raising prices, they could have switched to a different service or good. E.g. imagine you're selling regular potatoes for $1 / kg. Next month you want to sell them for $10 / kg, but you're not allowed to raise the price, so cast a spell on them and sell enchanted potatoes for $10 / kg. A new, completely different product, so it wasn't a price rise.
It's like handing a drowning man a sticky note with the word "oxygen" written on it.
Perhaps you should've stopped the printer sooner.
We are living in interesting times to say the least.
The west = idiocracy. What happened
And companies respond by saying "so you're saying raise prices 10% to reflect input cost increase and then another 5% to reflect borrowing cost increases. gotcha"
That's not how pricing works. LOL
Weimars are breaking out worldwide.