Although Jerome Powell has vowed to keep up the fight against inflation no matter how much pain it causes the economy, Wall Street is convinced he'll blink. | Win McNamee/Getty ImagesFederal Reserve Chair
Other new Fed officials outside Washington are economists who have long pushed for broad and inclusive employment. Among them: Austan Goolsbee, a onetime chief economist to former President Barack Obama who recently became head of the Chicago Fed and joined his first central bank policy meeting this week.
The Fed wants to ensure that it keeps rates high long enough to bring inflation fully to heel, fearing a repeat of the 1970s and ‘80s when the central bank backed off, only to see price spikes return. Yet even though consumer price increases have cooled, Fed officials are maintaining their tough talk with the idea of leaving borrowing costs high enough to keep inflation on its downward trend. They say wage growth will need to slow even further. And Fed policymakers have publicly been in lockstep on how fighting inflation is their most important priority.
Biggest lie is their is a supply line issue. Amazing how it disappeared after enormous price hikes. Once again Americans being played
Cheap money is the hardest drug to wean off of and has the worst withdrawals
He’s not hurting “the economy”, he’s hurting American workers. Salaries are down, home construction is down, and no one can afford to buy a house anymore.
The obama third term fronted by the angry turnip created the economic disaster in the first week.
JonLemire He screwed up the takeoff, why not blow the landing? Raise it by .25 and then let the economy glide down gently.
. U-S GDP rose 2.9% in 4Q 2022
He good now he have virus he recover