From “bumps on the road” to “lack of progress” and greater uncertainty:
Federal Reserve Chair Powell hardens his characterization of inflation.
#economy #markets
Posted on X
Mohamed A. El-Erian
elerianm
Among the things to watch for today
#FederalReserve Chair Powell’s remarks, including how he characterizes recent economic developments and their consequences for monetary policy; and
The release of the #IMF’s World Economic Outlook, including how/whether it extrapolates…
Posted on X
Nick Timiraos
NickTimiraos
Powell: "The recent data have clearly not given us greater confidence and instead indicate that it is likely to take longer than expected to achieve that confidence" that inflation will return to 2%.
Posted on X
Gregory Daco
GregDaco
🚨#Fed Chair #Powell with hawkish signal
1⃣"Recent data have clearly not given us greater confidence [that #inflation will return to 2%] & instead indicate that likely to take longer than expected to achieve that confidence"
2⃣"Allow restrictive policy further time to work"