Banks are well capitalized, which gives them a solid buffer against a business contraction," Lee wrote. It’s not bulletproof, but it means the economy is less likely to fall off a cliff," Lee wrote. The LA Times previously published columns downplaying the threat of inflation. Times business columnist Michael Hiltzik similarly dismissed inflation concerns, telling readers in a November 2021 headline, "Inflation has spiked. "At this moment, the chief danger in the inflation numbers — and the expectations they may fuel — is essentially political.

Source: Los Angeles Times June 23, 2022 01:12 UTC