How the Fed Disagrees With “The Economist”
During this past week at Jackson Hole, Federal Reserve Chairman Jerome Powell talked about inflation. His comments were not quite what The Economist recently concluded. Federal Reserve Policy Challenges. Jackson Hole Address. In a much-awaited August 22nd speech, Chair Powell expressed concern that the U.S. labor market could be softening. Observing that there was a “… marked slowing in both the supply of and demand for workers, …” he hinted that a rate cut might be appropriate. Although the inflation uncertainty created by tariff hikes remained, he said that risks were shifting. While tariffs could boost prices, their impact could be a one-time pop that rippled throughout the economy. ….[READ]
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