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Formerly TwitterHeather Long
byHeatherLong
Fed Chair Powell summary today:
1) A rate hike is very unlikely
2) His base case is to cut rates later this year, but it’s not a given
3) No sign of stagflation
4) 3% inflation is not acceptable
#Fed #economy pic.twitter.com/s6UwoWoSuz
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Heather Long
byHeatherLong
“I don’t see the stag or the ‘flation” - Fed Chair Powell sees no signs of stagflation
He expresses surprise people are talking about it right now with strong growth and inflation at 3% pic.twitter.com/KqqlZOwXFT
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Mohamed A. El-Erian
elerianm
As a follow-up to yesterday's #FederalReserve press conference, here are some thoughts on why Chair Powell's surprisingly dovish tone and context may end up being appropriate...though not for the reasons he put forward.
www.ft.com/content/aa8c68f7-9dad-465f-ab92-c64c38337a84
#economy @FT #markets #inflation
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Mohamed A. El-Erian
elerianm
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…
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