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Central Bankers vs. The Bond Market | Roger Hirst
Forward Guidance
Do You Think Consumers Sentiment Will Pick Up?
Consumer spending in the US and probably elsewhere fell off a cliff as inflation was so high last year because we say, oh my God, these items that I used to buy now cost so much more. So as you say, now people's incomes are worth more relative to what the word let's say six months ago. And in yesterday's Fed meeting, Jay Powell said exactly that. He actually said, you know, pretty much the exact quote that he expects consumers sentiment to pick up. That very much took me by surprise. You know, recessions can start when the unemployment rate is low and sometimes very low, sometimes three and a half percent.
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