قالب وردپرس درنا توس
Home / Business / Jerome Powell faces the Fed meeting in July – Axios

Jerome Powell faces the Fed meeting in July – Axios



Headlines: Powell once again sought security in ambiguity on Tuesday and stated in a speech to the Council of Foreign Relations that "the global risk picture has changed significantly since May 1," but also said "It's important not to overreact to things that are temporary or temporary."

Be Smart: The Fed Chairman has responded by pushing back what Felix Salmon of Axios calls "constructive ambiguity" against the blueprints of his predecessors Ben Bernanke and Janet Yellen. They dictated the Fed's plans to the market with forward-looking guidelines and lengthy policy statements. Powell reversed the course.

  • "Interest rate guidance is about the Fed standing in front of the markets and leading them to where [the Fed] they want," said Vincent Reinhart, a 24-year-old Fed veteran who now serves as chief economist by Standish Mellon Asset Management, Axios said:
  • "December [FOMC meeting] has shown that if you're at the top, you're being criticized by both the markets and the president, and you're moving toward much more data dependency … and moved from the front of the pack backwards. "

Conclusion: Powell is not only fighting Trump's continued criticism, Courtenay Brown writes of Axios, but also the negative effects of his trade war on the US Although the economy must protect itself against a surprise agreement.

  • A "cut in the insurance rate" in July could not only prove a political mistake, but also undermine the credibility of Powell and the Fed.
  • But he brings no rate cuts in the crosshairs of the president and the market, the h As investors who assess a probability of 0%, he does not.

Go deeper: Powell's statements are no fools


Source link