Most pros think 2/3 or more of the inflation spike was supply driven. If that is correct then Powell does a have a leg to stand on. Real rates are high. Cyclical sectors of the economy are weak. The fomc will need to lower rates. The only question is how much and how fast.
Most pros think 2/3 or more of the inflation spike was supply driven. If that is correct then Powell does a have a leg to stand on. Real rates are high. Cyclical sectors of the economy are weak. The fomc will need to lower rates. The only question is how much and how fast.