"Ray Dalio warns Fed's hands are tied and higher US inflation is sticking around. Democracy, maybe not."
"The good news is that the Federal Reserve knows how to fight inflation: By tapping the brakes on the economy. The bad news is the harder it hits the brakes, the greater the risk of an accident that ends the economic recovery, freaks out financial markets – or both."
"US equity benchmarks closed sharply higher Wednesday, and the S&P 500 missed a record closing high, after the Federal Reserve announced a speedier reduction of its monthly asset purchases in the face of persistently elevated inflation. Fed policy makers also now think official interest rates could rise three times in the coming year, rather than the sole hike penciled in earlier."