Jerome
A Hopium Stock Market Rally on Jerome Powell’s Inflation Progress Report
Image courtesy of StockCharts.Com The Federal Reserve releases a transcript of Powell’s speech on inflation and the labor market. Powell highlighted core personal consumption expenditure (PCE) inflation, noting that it is stubbornly high despite the Fed’s rate hikes. Powell’s key comments (emphasis mine) Core PCE year-over-year inflation stands at 5.0% in our October estimate, roughly …
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The US economy is at the mercy of Jerome Powell and Janet Yellen
As Americans struggle to pay their bills amid soaring inflation, the institutions we rely on to bring the economy back to stability are engaged in a covert power struggle that only worsens the impending crisis. Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen are locked in a tug of war over interest rates, …
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