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From Liberty Overwatch 🗽 The Last Time Inflation Was This High, the Fed Funds Rate Was 14.78%The last time the CPI registered a year-over-year spike of 7.5%, it was February 1982 and the fed funds rate was 14.78%. As of January 2022, the overnight rate is a meager 0.8%. But in 1982, we weren’t sitting on a debt time bomb.There’s no good way out for Biden and the Fed: leave rates low and continue to stoke the inflation bonfire, or raise rates, explode the debt bomb, and plunge the economy into recession. https://fred.stlouisfed.org/series/CPIAUCSL#0