Jerome Powell probably did not mean to trigger a significant easing of financial conditions on Friday, but that’s exactly what he did.
“A lot of people will just categorically say it is nonsense,” Lisa Abramowicz of Bloomberg said.
All three major stock indexes rose by at least eight percent in November.
President Biden’s increasingly brazen attempts to bamboozle the American public on economic matters have more than a whiff of desperation.
Rejecting the view of most economists on both the left and the right, Biden said in a tweet that companies should be lowering prices because the rate of inflation has come down this year.
Inflation continued to slow in October but the multiyear price increases under President Biden are still at the highest in decades.
The most striking thing about President Biden announcing a special White House council on supply chains is that it took until this Monday to happen.
Biden says he wants to grow the economy from “the bottom up.” Yet lower income Americans give Biden the worst approval rating on the economy.
Consumer spending was revised lower but government spending, business investment, and residential investment were all revised higher.
Federal Reserve Governor Michelle Bowman said on Tuesday that she expects the central bank will have to hike rates further to bring inflation down to its two percent target. “My baseline economic outlook continues to expect that we will need to i…