McElligott On The Fed’s ‘Line In The Sand’

McElligott On The Fed’s ‘Line In The Sand’

On Wednesday, hours prior to the June dot plot reveal, Nomura's Charlie McElligott wrote that "Powell will do more of the standard 'both sides of mouth' messaging." And he did. The post-meeting press conference was a clinic in just that type of messaging. I would note that Powell's penchant for "plain English" means he has a harder time obscuring contradictions compared to the kind of opaque, academic doublespeak that only PhD economists are fluent in. In simple terms, Powell sometimes makes s
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