Powell’s ‘Pressure’ Point, ‘Proverbial Nickels’ In EM And ‘Going Large’ Out Of The Gate
"For what it's worth", Nomura's Charlie McElligott thinks "the pressure" on Jerome Powell to be "even more dovish" at this week's Fed meeting is "growing".
On Sunday, we previewed the FOMC, noting that between political pressure, a hyper-focus on inflation and the forthcoming rethink of the Fed's inflation framework/reaction function, there's every reason to believe that Powell will go out of his way to try and pull off a "dovish hold."
On Monday, core PCE came in cooler-than-expected, unchang
Financial engineering is the art of moving the goalposts at random and as frequently as possible while still staying in power… The idea is to induce the public to believe the end result is beneficial to them.