2min chapter

The Macro Trading Floor cover image

Why Is Powell Ignoring "Animal Spirits"

The Macro Trading Floor

CHAPTER

Is There a Recessionary Market in Six Months?

I still struggle to find a forward-looking indicator on GDP growth, say, six, nine months ahead that does not look extremely vulnerable. And of course, if you resurface this 50 basis point chatter and all that stuff, it will only increase the risk that it is a fed over doing things ultimately. It's very far from being anywhere near a consensus or anywhere near anything that would be accepted politically. But I think they've done enough.

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