We avoid inflation like it's cancer because the cure is as painful as chemo

Across the pond on Thursday, the Bank of England struck a very different tone from its American counterpart the week before. Whereas the Federal Reserve was stuck walking back Chairman Jerome Powell’s equivocating about the future and implication of the central bank’s recent rate hike campaign, the U.K. bank’s Monetary Policy Committee emphatically committed to raising rates until it conquered Britain’s inflation crisis — and admitted the costs of doing so.