Forward Guidance
Danielle DiMartino Booth: Jay Powell Just “Went Way Off Script” At September Fed Meeting
Sep 20, 2023
Danielle DiMartino Booth, CEO & Chief Strategist of QI Research, discusses Jay Powell going off script at the September Fed meeting, the normalization of credit, the risk of a government shutdown, and her hypothesis that March 2020 might not count as a recession.
01:06:14
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Quick takeaways
- Powell's off-script comments about a soft landing contradict the dot plot, creating uncertainty about future interest rates and the Fed's view on the economy.
- The revised economic projections indicate a stronger economy than previously anticipated, but Powell remains cautious and doesn't consider a soft landing as the base case.
Deep dives
Powell's Off-Script Remarks Reflect Uncertainty
During the press conference, Powell's off-script comments about a soft landing not being his base case raised eyebrows. This contradicted the dot plot's indication of a soft landing. The mixed messages from Powell create uncertainty regarding the future path of interest rates and the Fed's view on the economy.
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