Jim Bianco’s conclusions from today’s Fed meeting: - “get used to 3-4% inflation & 4-5% interest rates” - no signs of U.S. recession… the theory that the actual labor market is weaker than official payrolls is WRONG (Powell referenced this theory today) - with stock market at all-time highs, it’s clear that the Fed hasn’t broken anything yet - much more! Recorded this afternoon (June 12) shortly after conclusion of Fed Chair Jay Powell’s press conference.