Join institutional investors, analysts and strategists from the world's largest banks: Subscribe today
Already have an account? log in
Release The Hawks?
There's good news and bad news if you're Jerome Powell.
The good news is, the 2022-2023 rate-hiking
Look Powell has done a good job. If they get another hot jobs print and/or inflation print they can wait a meeting or maybe go 1/4% depending on the overall number. I wanted to wretch when Larry Summers was given a big headline on Bloomberg saying 50 was a mistake. Didn’t he say we needed a 6% unemployment rate to get inflation down? Most estimates are that about 2/3 of the inflation burst higher was supply driven. The Fed has no control over supply chains. Another clue is that inflation was a problem pretty .much worldwide. And there were various fiscal and monetary policy mixes. So Larry is overconfident in his forecasts and is a founding member of hindsight capital.
“a founding member of Hindsight Capital” — very nice!
Could be this rate cut spared our nation from an inglorious chapter. Journalists, politicians, political activists and wealthy should give extra thanks.