The Powell Of The Powerless By Michael Every of Rabobank The Fed Chair’s dovish Jackson Hole speech was analysed pithily by our Fed watcher Philip Marey: “Regarding the Fed’s initial diagnosis that inflation was “transitory”, Powell tried to hide behind other economists who were also wrong: “The good ship Transitory was a crowded one, with most mainstream analysts and advanced-economy central bankers on board.” This is the classic sharing the-blame defence of failing economists, but totally inappropriate for the world’s leading central bank with the largest staff of economic researchers in the world, holding PhDs from America’s most prestigious universities.… — Continue at ZeroHedge News : Read More
