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{
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  "cid": "bafyreienkmnrco4tz2wpxool2wqv75hb7uzixxpobwowf3cddjq474ap4i",
  "value": {
    "text": "Here's what it looks like. The one-time price level shift at T(1) is a one-off (assuming tariffs don't keep rising - but let's leave that aside for now). If at T(2), the inflation rate returns to trend, then there's nothing for the Fed to do, they focus on unemployment/GDP. But if not...can't cut.",
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        {
          "alt": "\tNo 2nd Order Effects\t\t2nd Order Effects\t\n\tPrice Leve\tInflation Rate\tPrice Leve\tInflation Rate\nT(0)\t100.0\t2.5\t100.0\t2.5\nT(1)\t101.5\t4.0\t101.5\t4.0\nT(2)\t104.0\t2.5\t105.1\t3.5\n",
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    "langs": [
      "en"
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    "createdAt": "2025-04-04T14:02:24.638Z"
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