by John Mauldin
GoldSeek
I remember traveling as a young boy on long trips and asking my parents, “Are we there yet?” I was later punished for this annoying behavior by having my own children ask me the same question over and over.
On a national scale, we have been asking the same of the Fed. Now I think we can confidently say, “We’re here.” Barring unusual events, the Federal Reserve will finally start loosening its grip this month. Jerome Powell himself, speaking at the Fed’s Jackson Hole conference, all but promised rate cuts are imminent.
Powell’s iconic line, “The time has come for policy to adjust,” grabbed all the headlines but his speech had other interesting points. It was also admirably free of the Fed doublespeak that often leaves us even more confused. Powell seemed to relish the chance to finally deliver what he feels is good news.