Ok, here come Powell's prepared remarks.
If you need to know what to look for here, you can peruse some of the color on today's closely-watched hearing here, but basically, it's the same old thing.
People want clues about the outlook and about how fiscal stimulus plays into the committee's decision calculus and about inflation and, ultimately, about whether we're likely to get four rate hikes this year.
Powell needs to learn the art of obfuscation and fine-tune his skills at employing euphemisms in the service of not sounding too dovish or too hawkish. Basically, he needs to master the art of using a whole bunch of words to say nothing.
Well speaking of a whole bunch of words, his testimony is out. Here are some (seemingly hawkish) bullet points :
POWELL: SOME HEADWINDS FACING U.S. ECONOMY ARE NOW TAILWINDS
POWELL SEES FURTHER GRADUAL RATE HIKES, OUTLOOK REMAINS STRONG
POWELL: U.S. ECONOMIC OUTLOOK STRONG, INFLATION TO RISE TO 2%
POWELL: FOMC SEES RISKS ROUGHLY BALANCED, MONITORING INFLATION
And here are some excerpts from the testimony:
“Against this backdrop of solid growth and a strong labor market, inflation has been low and stable"
“We continue to view
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