JOE BIDEN DID THAT: Catastrophic Inflation: ‘I’ve Never Seen Prices Jump This High, This Fast.’ “This is what the early chapters of an inflationary meltdown look like. Last week, we were informed that ‘consumer prices were 7.9% higher in February than a year ago,’ and that was being touted as the highest figure ‘in 40 years.’ Of course, those that follow my website regularly already know that the reality is much worse than that. If the inflation rate was still calculated the way that it was back in 1980, it would be over 15 percent right now.”

At this point in 1980, the federal funds interest rate was nearly 20% as the Fed at least tried to tame inflation.

“The current federal funds rate as of March 11, 2022 is 0.08%.“