Club FED. Clueless as ever.

The "Federal Reserve" continues to serve up interest rate hikes in a manner that reminds one of a "solution searching for a problem".

Raising rates as a solution to inflation clearly does not solve the alleged inflation problem. It would seem instead to be a contributor to what is being called inflation, which in this iteration is a largely self inflicted problem.

The rising prices today are largely a result of "greed", opportunistic price gouging on the part of producers, distributors and retailers.

The Fed today is a prime example (ahem) of the "Peter Principal" at work.