(Mis)interpreting the Fed
What Goes Up
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Is Powell Getting Nuanced in These Things?
Jim Cevallos: Powell almost took a victory lap when he said, this is the first time that the Fed can actually admit we are seeing dis inflation. He says most people are kind of listening to it out of one year and then they're trading in the markets, you know, at the same time. So yeah, I think that he's correct in saying that about goods prices. But I wish he framed it differently because I think it just creates more volatility in markets.
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