From the Bloomberg article on “Inflation’s Stubborn Start to 2024 Blamed Partly on Powell Pivot.” This quote is another way of expressing my long-held concern that, after the humiliating 2021 policy mistake, the Fed became excessively data dependent and overly reactive in its… pic.twitter.com/EWq0EM3ezw

The markets are now evenly 'divided' between 1 or 2 rate #FederalReserve cuts this year and between no and 3 rate cuts. The implied probability of a rate hike remains very slim. pic.twitter.com/2UGz9Xsb8A

'Some say Powell himself is to blame for persistent inflation pressures after prematurely telegraphing interest-rate cuts, which ignited optimism in financial markets and fueled economic activity.' www.bloomberg.com/news/articles/2024-04-17/inflation-s-stubborn-start-to-2024-blamed-partly-on-powell-pivot

'The Fed faces an invidious choice: stay the course against inflation at the risk of a US funding crisis/banking crisis/recession ending in a return to QE and fiscal dominance; or cut rates before inflation is under control ending in fiscal dominance.' www.msn.com/en-us/money/markets/gold-is-sniffing-out-monetary-and-geopolitical-dystopia/ar-BB1lIKJE pic.twitter.com/16mLqQiH4O