Asked about the level of inflation, Federal Reserve Chair Powell responds "3% cannot be in a sentence with satisfactory." What if 3% turns out to be closer to the equilibrium inflation rate for a US economy (i) going through major structural changes, several of which are…

Here's the link to the #FederalReserve policy statement. What I found notable relative to my expectation: A stronger characterization of the economy. A larger reduction in the pace of balance sheet reduction. No hint of why the progress on inflation in the last three months…

WHAT CORPORATE EXECUTIVES ARE SAYING ABOUT THE US ECONOMY Happy Fed Day! In today's newsletter, I looked at what execs from McDonald's, Starbucks, Trane, Amazon etc. saying. Big themes: Consumer slowing, capex booming, inflation normalizing,wages rising, and HVAC HVAC HVAC pic.twitter.com/zCayHp8yl6

YELLEN SAYS INFLATION HAS COME DOWN CONSIDERABLY, BUT PRICES OF MANY GOODS ARE HIGHER THAN BEFORE THE PANDEMIC