Anti-Russia Alliance Splinters As Japan Buys Russian Oil At Price Above Cap; Others To Follow
- Anti-Russia Alliance Splinters As Japan Buys Russian Oil At Price Above Cap; Others To Follow
by Tyler Durden, https://www.zerohedge.com/
Today OPEC+ woke up and chose scorched-earth war against the Fed.
That’s because while the US central bank is already trapped, and is desperately looking for any excuse to halt its tightening campaign now that inflation is accelerating to the downside not just because regional banks desperately need a lower Fed Funds rate to short-circuit the relentless deposit drain which won’t stop (and will lead to even more bank failures and resolutions) until their deposit rates can at least match those of the Fed, but also because various liberal rags have already thrown Powell, pardon, the “Trump-era holdover” under the bus for the coming recession…
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… OPEC’s shocking shot across the Fed and Biden bow revealed in its intention to keep oil prices high even as central banks push the world into a recession, just made life for the central planners very difficult, as the sordid stench of stagflation is suddenly all over the place.
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— zerohedge (@zerohedge) April 2, 2023
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