“There are so many things we don’t know,” Fed Chair Jerome Powell said at a press conference Wednesday, and “uncertainty is remarkably high.”
No sh!t:
Yeah… the understatement of the year.
They might not be that uncertain.
But J6P is like a mushroom fed bull blank and kept in the dark.
Haven’t the grease monkeys done enough damage?
Powell is describing the dreaded “stagflation”. Is that right, and, what is an analogous time period for what that might look like over the next 3+ years?
Spot
No, there was a lot of political dancing yesterday. The obscure wait and see when things are obvious to the FED.
The FED is holding off on lowering interest rates till the tax cut and deflation set in. Because interest rates will soar when the tax cut happens.
Trump is looking to off-ramp who did what when the tax cut explodes in our faces. That is why the Senate passed the CR; shutting down the government would be a distraction from blaming the tax cut.