Nine minutes of time well spent

It is well spent both for the SF Fed Chair’s comments on inflation and employment and for her personal story.


its fight to bring down inflation by raising interest rates,

Almost as gory as fighting in the trenches!

The Captain

I found her as brilliant. Incredibly well spoken and well studied.

Thought it over quickly and was completely disappointed in her.

She did not see the pandemic going longer, okay.

She does not speak about the need for fiscal policy to create a deflationary force in the form of US/Mexico manufacturing.

Instead back to her dining room table and trying not to see her parents laid off, which they were.

For a brilliant speaker she did not cover the bases. She did not save the day. She has serious power and she is even speaking as if she is supposed to be saving the day. We sure as heck are not going to see her do that.

I get she does not have power over fiscal policy. But she was asked about inflation. She did mention supply chain problems and then dropped the topic when looking forward to solve inflation.

China is no longer the exporter of manufactured goods as a deflationary force. 2023 is not a good year. The FED is going to make it worse than necessary in the 2H23.

In 2024 no one will be depending on the FED.