Has the Fed regained its credibility as a check on inflation? That’s the question. Answers run the gamut. At one extreme are incredulous lamentations for
Day: August 3, 2022
Cognitive Dissonance: Services Sector Edition
Call off the recession. Maybe. A key gauge of US services sector activity defied a dour signal from an alternative survey, suggesting the biggest part
Fed ‘Will Get It Right,’ Bullard Says
The US isn’t in a recession, Jim Bullard told CNBC Wednesday. The labor market, he said, is “so strong.” Fed officials are engaged in an
‘You Are Here’: ‘Unstable’ Rally Confronts Perilous Seasonal
Fed officials put market participants on notice this week: There was no “dovish pivot” from Jerome Powell at July’s press conference. That narrative was a
