The various talking heads from The Federal Reserve keep jawboning about whether to raise rates or not. One of the major drivers of inflation is … money. M2 Money growth YoY is growing again (blue line)! And with it, inflation has been rekindled.
![](https://confoundedinterest.net/wp-content/uploads/2024/05/m2clevefed.png?w=1024)
Mortgage rates? There is a lag between M2 Money printing and conforming mortgage rate growth.
![](https://confoundedinterest.net/wp-content/uploads/2024/05/mortgagelageffect.png?w=1024)
Fear the talking Fed.
![](https://confoundedinterest.net/wp-content/uploads/2024/05/feartakingfed.png?w=500)
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