Fed Chair Powell Says Goodbye To Era Of Easy Money | Jim Bianco & Joseph Wang
Forward Guidance
00:00
The Reverse Wealth Effect
The Fed has essentially no control over this supply side. So it will have to go harder and harder tightening monetary policy on the demand side. Jim Silver: Reverse wealth effect is stocks go down. You feel less wealthy. Your house gets quoted. It's less valuable. You spend less. And what I can conclude from that, Jim, is that inflation will be more sticky because of the supply side.Silver: Do you think we're close to the point where we'll have the reverse wealth effect? Or are we not close?
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