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Slaying the Inflation Dragon | Jurrien Timmer
Forward Guidance
The Fed's Tightening of Financial Conditions
When people say you've tightened monetary conditions, what does that mean? And what is the transmission mechanism? Is it coming from the Fed or is it just sort of coming from the market because we're just at that point in the cycle where things are slowing down? Yeah. So the Fed is trying to slay the inflation dragon, let's say, or it's like a fever. It's trying to break the fever. To do that, if the fever is high enough, which of course it is right now, 8.5% is very, very high,. The Fed needs to kind of shock the system. And it's doing that by trying to tighten financial conditions.
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