Watch: Powell's Arrogance Returns
Authored by GoldFix ZH Edit
"That wouldn't be stagflation. That would still be to a very healthy level of growth. Of course with inflation you know our...we will return inflation to two percent and that won't be so I don't see the stag- or the -flation actually." - Jerome Powell May 1, 2024
While the Fed has apologized and moved on for their transitory mistake some families are still living with the ramifications of Powell's mistake.Powell's family is not. Neither are the families of all those people in the peanut gallery giggling at his returned arrogance.His policy error was bad enough back then.People make mistakes. But his bigger mistake was arrogance. And he's showing arrogance again. He hasn't learned his lesson.
Almost three years after they said inflation will be transitory, they are still fighting it.And it's done declining. 18 months after the Fed started fighting inflation, it has remained strong. F*ck Jerome Powell.
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