The timing of the Fed's first cut is the question in markets. Chill. Fed officials are all over the map on willingness to cut and demand more data. July 31 is the earliest cut.
I concur with your July 31 date Claudia. The Fed seems gun shy from its previous perceived inflation term of “transitory inflation” as negative, incompetent and ill-data driven. Your article regarding Fiscal big wins proved the inflation was indeed transitory as the fiscal policy made its way to implementation, the pandemic impacts on supply chains abated, and f’n corporations price gouged the market through convenience not necessity.
Any hoo, I love your work and appreciated to see Stephanie Kelton give you a shoutout on her rest Lens article! Keep truck’n!
It is the Federal Reserve’s actions, as a central bank, to achieve three goals specified by Congress: maximum employment, stable prices, and moderate long-term interest rates in
the United States. Really???...
I think their goal is to protect big money compounding wealth with little to no inflation, if possible but not a major concern, and it's full speed ahead on eliminating inflation regardless of the consequences to 'we the people'. We're just bugs, cattle, collateral damage...
If inflation wipes out 'little peoples wealth', that's perfect for the Moneyed Interests.
OMG, how can you emphasize "One of the darkest hours in the central bank’s history came in 1972," with Burns-Nixon, when the darkest hour was Greenspan in the 2000s kept rates low and let the housing market soar into space in order to support Bush's reelection.
Howcum you never discuss the disproportionate secondary effects of continued high interest rates on poorer people as they try to buy cars or homes or start businesses?
Interfering with an election is a low low. The Fed is risking the soft landing. The biggest benefit to poorer people is a strong labor market. I push the Fed to give equal weight to maximum employment.
I concur with your July 31 date Claudia. The Fed seems gun shy from its previous perceived inflation term of “transitory inflation” as negative, incompetent and ill-data driven. Your article regarding Fiscal big wins proved the inflation was indeed transitory as the fiscal policy made its way to implementation, the pandemic impacts on supply chains abated, and f’n corporations price gouged the market through convenience not necessity.
Any hoo, I love your work and appreciated to see Stephanie Kelton give you a shoutout on her rest Lens article! Keep truck’n!
Thank you. I hope I am wrong. The Fed is taking unnecessary risks. Stephanie is excellent and always thrilled to have a shoutout from her.
What is monetary policy?
It is the Federal Reserve’s actions, as a central bank, to achieve three goals specified by Congress: maximum employment, stable prices, and moderate long-term interest rates in
the United States. Really???...
I think their goal is to protect big money compounding wealth with little to no inflation, if possible but not a major concern, and it's full speed ahead on eliminating inflation regardless of the consequences to 'we the people'. We're just bugs, cattle, collateral damage...
If inflation wipes out 'little peoples wealth', that's perfect for the Moneyed Interests.
https://www.federalreserve.gov/aboutthefed/files/pf_3.pdf
OMG, how can you emphasize "One of the darkest hours in the central bank’s history came in 1972," with Burns-Nixon, when the darkest hour was Greenspan in the 2000s kept rates low and let the housing market soar into space in order to support Bush's reelection.
Howcum you never discuss the disproportionate secondary effects of continued high interest rates on poorer people as they try to buy cars or homes or start businesses?
Interfering with an election is a low low. The Fed is risking the soft landing. The biggest benefit to poorer people is a strong labor market. I push the Fed to give equal weight to maximum employment.