Jerome Powell Relearns A Lesson He Taught In 2012: ‘It Will Never Be Enough For The Market’

Jerome Powell Relearns A Lesson He Taught In 2012: ‘It Will Never Be Enough For The Market’

Jerome Powell described the Fed's new, outcome-based forward guidance as "strong and powerful" on Wednesday, during his virtual Q&A with the media. If I may be so presumptuous, Powell came across as less confident compared to the sure-footed demeanor he discovered in March, when the pandemic delivered to the Fed chair a sense of purpose he seemed to lack previously. "Over time forward guidance will provide very powerful support for the economy", he said, editorializing around the new FOMC
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