Let’s discuss Fed Chair Jerome Powell’s press conference following the January FOMC rate hike meeting.
by Mike ‘Mish’ Shedlock
Mish Talk
Despite Raging Inflation, the Fed Stands Pat in Wimpiest Statement Ever
Earlier today I commented Despite Raging Inflation, the Fed Stands Pat in Wimpiest Statement Ever
Asymmetric Policy
For starters, the Fed is hiding behind Covid. It continues its amazingly asymmetric policy of being hyperactive after bubbles pop but being extremely accommodative until they do pop.
Inflation Thumb Twiddling
Inflation has been raging for well over a year and all the Fed does is admit “Overall financial conditions remain accommodative,” with a pledge to “monitor the implications.”
Press Conference Equally Wimpy