"He's adjusting to data coming in, which the entire board should be doing," Hogan said. "If the facts change again through the February and March data, he'll likely become flexible on that side and not push this too far to the point where they need to break something."
Goldman Sachs economists are holding to their forecast for a quarter-point hike at the March 21-22 Federal Open Market Committee meeting, but concede that it's a "close call" between that and a half point.that it could have market impacts, with stocks selling off "more sharply" and downward pressure on commodities, plus upward pressure on the dollar.Powell faced some questioning this week over the Fed's inflation-fighting strategies.
"This is what he is supposed to do," Joseph Brusuelas, chief economist at advisory firm RSM, said of Powell's evolving policy stances. "Jay Powell is a punching bag in Washington at this point. He's going to take the blame for establishing price stability. If he does that well, in the years to come he'll be venerated. People will speak very highly of him."
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