From the Desk of Anthony Pompliano Jerome Powell And The Fed Are Creating Market Chaos
Nov 19, 2025
Joseph Wang, Principal at FedGuy.com and author of Central Banking 101, dives deep into the chaos created by Jerome Powell and the Federal Reserve. He explains the mixed signals investors are receiving and the internal debates within the Fed, exploring hawkish vs. dovish perspectives on unemployment and inflation. Wang shares insights on the impact of current interest rates and how the Fed's reliance on data has shifted post-pandemic. Plus, he discusses his bullish view on gold amidst rising sovereign deficits and the implications of AI on labor markets.
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Fed Deeply Divided On Cutting Rates
- The Fed is split between hawks who read lagging data and doves who look forward to looming labor weakness and tariff effects.
- That split makes a December rate cut a market coin-flip and creates pricing uncertainty.
From Forecasting To Data Dependence — And Back
- The Fed shifted from forward-looking models to data-dependence after misreading pandemic inflation.
- Now some policymakers push to be forward-looking again because big structural changes (like lower immigration) may lower future inflation.
Debate Fiercely, Then Close Ranks
- Encourage fierce internal debate but public unity after decisions to ensure better outcomes and market clarity.
- Expect more dissents now, which improves decisions but increases market confusion.
