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Powell Leaves Markets With More Questions Than Answers
Policymakers are taking a meeting by meeting approach to assessing the need for additional rate hikes, Jerome Powell told reporters on Wednesday, after the Fed raised rates to the highest in 22 years.
Bringing inflation back down to target will likely require a period of below-trend growth and "some" softening of labor market conditions, he reiterated.
Asked by CNBC's Steve Liesman if the Fed is, in fact, done, or if more hikes are on the way, and also whether the cadence is now definitively e
H, quick thanks for your regular recaps of Powell’s pressers; my schedule does not allow me to watch and or listen live, and I always look forward to and appreciate your summaries and specifics…
As to how much Americans will be hurt by 3% inflation, Powell could easily have said not much as long its down to the target by the end of next year. No rich people will materially suffer but I paid $8.50 for a value menu McDouble, a medium fry and a drink yesterday and that’s enough for me. I’m a stockholder but at my store at least, a Big Mac combo was ten bucks. My food was cold and tasteless. Oh, and BTW, MCDs book equity has been negative for seven years. What a dump.