Powell Pulls the Hope Out From Under the Market – Ep 852
The Peter Schiff Show Podcast
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What Do You Think the Underlying Rate of Inflation Is?
Powell was asked a question about what he and the FOMC believed was the current underlying inflation rate in the US economy. Powell's answer: We don't have a number. Like we've got no idea where Clueless as to what the underlying rate of inflation may be. Now that is a very scary admission by the Fed because if the Fed is committed to fighting inflation but it doesn't even know how big the monster that it has to slay is, then how does it know how many rate hikes are necessary?
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