[cuban leaf]

You have to admit it is comical. They say there is no recession and then say they have to increase the interest rate to control hot inflation.

These people think the general public is downright moronic. They must be trying to reap the benefits of pouring all that lead in the atmosphere from leaded gas. 🤣

[Tell It Right]

IMHO, when Powell says things like "no recession" and "inflation has to be controlled", he's basically saying: "Heads up. Not only did we just hike rates by 0.75% expect us to keep on doing it in the near future. Don't say we didn't warn ya."

Without getting into whether or the Fed should even exist or what the Fed should do, this is one quality I like about Powell. His predecessors did a bad job of projecting ahead of time what the Fed would do. That's why usually on days like today when the Fed announced a new policy, the stock market used to jump up or down more than AOC does in glee when a baby is aborted. I always suspected more insider trading in those scenarios. At least with Powell's good way of getting the word out ahead of time, the stock market has small jumps on days like today (because we all knew the 0.75% rate hike was coming, just like Powell's statement today tells us what's probably coming down the road).

Did anybody see a statement from the FOMC about more QT?

[SaveFerris]

(These people think the general public is downright moronic)

2008 conclusively proved that to be correct.

Unfortunately.

[servantboy777]

>>These people think the general public is downright moronic<<

This is why there is what’s called...Fed speak.

Lotsa mealy mouthing weasel words designed to keep folks off kilter not knowing exactly what they mean when they speak.