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Lira Hyperinflation Back Again, Currency Crisis After Central Bank Governor Fired For Hiking Rates
This flies in the face of the Fed allowing inflation to run hot, they're powerless
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The Lira has begun to plummet following the firing of the hawkish central bank governor. Suddenly the Central bank hiked interest rates by 200 bps and within 3 days lost His job. The Lira has been the best performing EM market currency since its collapse last year leading to epic gains. The people have begun to regain the confidence to a degree but the fact He was fired for hiking interest rates shows the next man will do the opposite. This makes you wonder about Powell's statements about allowing inflation to run hot. There comes a point in every fiat currency's life when it returns to its intrinsic value. Is the fed going to hike interest rates and watch the market cave?
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https://www.youtube.com/watch?v=ML6XZjcPJBs
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