Expansionary monetary policy brought on by massive tax cuts when times are good and natural unemployment at decades low.
Funny that the roles are now reversed and the fed is looking at this thinking the 70s might come back again where inflation starts sitting at all time highs.
You can only see why the Fed is hesitant to pause on the interest rate hikes.
However the Fed is not free of blame, t hey forget the second part of the lesson where price stability is first and foremost the most important thing for price stability, which leads to consumer confidence.
But just piss poor management all around during this administration.
I hope someone will realize that the US is not an episode of the apprentice, but i'm not holding my breath