(Mis)interpreting the Fed
What Goes Up
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Fed Policy
Powell has started going back about almost a year now, he starts off by apologizing to the American people. He says, listen, we're sensitive to everybody's pain. The reality is that the unemployment rate has stayed relatively low. So what that tells us is that if we do get a slowing in the economy, but the jobs market stays relatively robust, consumers still have dollars to spend and consumption is 70%.
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