Posted on 05/13/2022 6:02:57 AM PDT by Browns Ultra Fan
The US Senate yesterday confirmed the reappointment of Jerome “Slowhand” Powell as Federal Reserve Chairman.
The good news? Atlanta Fed’s Flexible CPI YoY cooled to 20% in April. The bad news? Flexible prices are still growing at 20% while wages are growing at 5.5% YoY.
On the export front, export prices are cooling and were at 18% YoY in April, down slightly from March. Import prices cooled to 12% YoY as The Federal Reserve has slowed asset purchases.
I would have preferred President Biden appoint a serious Federal Reserve Chairman liked Stanford University’s John Taylor (of Taylor Rule fame). In his honor, here is the Mankin version of the Taylor Rule which calls for a Fed Funds Target Rate of 13.89% while the current Fed Funds Target Rate under Powell and the Gang is … 1%.
Call it the Powell Boogie. At a very slow speed.
Powell is indeed “Slowhand.”
(Excerpt) Read more at confoundedinterest.net ...
Do you really think it matters? They all share a brain.
Allow more fuel delivery and stop printing trillions of nancybucks.
If we have so much inflation, why is gold in dollars tanking?
Traitors:
Blackburn (R-TN)
Blunt (R-MO)
Burr (R-NC)
Capito (R-WV)
Cassidy (R-LA)
Collins (R-ME)
Cornyn (R-TX)
Cramer (R-ND)
Crapo (R-ID)
Daines (R-MT)
Ernst (R-IA)
Fischer (R-NE)
Graham (R-SC)
Grassley (R-IA)
Hagerty (R-TN)
Hoeven (R-ND)
Hyde-Smith (R-MS)
Inhofe (R-OK)
Kennedy (R-LA)
Lankford (R-OK)
Lummis (R-WY)
Marshall (R-KS)
McConnell (R-KY)
Moran (R-KS)
Murkowski (R-AK)
Portman (R-OH)
Risch (R-ID)
Romney (R-UT)
Rounds (R-SD)
Sasse (R-NE)
Scott (R-SC)
Thune (R-SD)
Tillis (R-NC)
Tuberville (R-AL)
Young (R-IN)
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