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Jay Powell’s Plan To Kill The “Fed Put” | Danielle DiMartino Booth
Forward Guidance
The US Economy Proven More Resilient to Interest Rate Hikes Than Expected
Two years ago, no one would have thought the Fed would have been able to hike to 5% and inflation would still have inflation at all. I think that there are two major factors that have been something of a gigantic macroeconomic distraction. The first is the nature of layoffs. If you're working in Silicon Valley making $300,000 a year, you're not running out to the California Department of Labor to apply for unemployment insurance. And where that's headed tells me that we might go past what their unemployment rate projections are going to be.
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