5min chapter

Hidden Forces cover image

Does the Fed Have Any Idea What It’s Doing? | Jeff Snider & Brent Johnson

Hidden Forces

CHAPTER

The Politics of the Fed's Rate Hikes

Jeffrey Toobin: How much of this is about inflation? Obviously, some of it is to the extent that they can do anything about it. But I wonder how much of it's also like wanting to get the stock market down. He says Powell doesn't want to end up as Arthur Burns; he wants to be Volcker. Toobin: And once this thing starts to really hit the real economy in a way that we and the markets are expecting it to, then politics will take over.

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