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Jim Bianco on Fed Chair Powell's Reluctance To Discipline The Bulls (February 2023 FOMC)
Forward Guidance
What's Your Base Case for the Year?
I would not be surprised, just take your last point first, that he might push back that you misinterpreted what I said at the presser. You know, the Fed is in a blackout period, which ends Friday and he's got all next week. So I wouldn't be surprised if they did that. As far as my base case goes, I've been arguing that inflation is peaked, that is easy to see. And it's also the least important thing you can say that it's peaked. The long term rate of inflation returning to its pre-COVID levels of 2%.
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