Just simply put — An amazing amount of carnage this afternoon. If you’re worried about inflation, the Fed has your back. But…….. If you’re worried about your stock account, your investments, your job, your mortgage, your standard of living, your ability to travel or afford to go on vacation, your shrinking bank account, your ability to get a raise or a better job, well, the Fed is definitely NOT your friend.
@dennismccain I didn’t see that he said he would be data dependent. Or that there are external factors that could make 2% inflation untrainable.
@aby1 You are correct. But he and the other governors very much are data dependent. I still expect a pause at the next meeting on November 2nd. They’ll talk about the lagging effect of the recent rate hikes and their ability take effect. Data will be inconclusive. And the prudent path forward will be to pause any rate hikes to the December meeting and wait for more data. I’m cynical enough to think it’s a political move with elections on November 8th. But I’m probably wrong.