Why Inflation Isn't a Fed Problem—It's a...

Rates go up, inflation goes down. That's the story we've been told.

But what if that explanation is incomplete—and in some cases, backwards?

In this episode, Andy Tanner sits down with Dr. John Cochrane to challenge one of the most widely accepted ideas in modern finance. They unpack why inflation may have less to do with central bank policy and more to do with something far less discussed: government debt and credibility.

If inflation were simply a matter of interest rates, it would already be solved.

Instead, this conversation reframes inflation as a question of trust. Do markets believe future obligations will be honored without devaluing the currency? And what happens when that belief starts to crack?

You'll hear why rising interest rates can actually worsen the problem they're meant to fix, how fiscal policy quietly drives price levels, and why historical examples—from the U.S. to Europe—point to the same underlying dynamic.

This is not about predictions or politics.

It's about understanding the structure beneath inflation—and why most investors may be watching the wrong lever entirely.

Want to Learn More? Visit cashflowbonus.com to access free investing resources, including the ebook and action items discussed in this episode.