“My confidence has grown that inflation is on a sustainable path back to 2%"
“The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks."
"We do not seek or welcome further cooling in
You know what I haven’t heard about in a while? Crypto. When people hear you work in finance, you can get a pretty good gauge about where their mind is on the topic based on their own curiosities in your conversations with them. And for a
Last week the S&P 500 hit another all-time high with the Dow closing the week above 40,000 for the first time. The catalyst for the move was a "better than expected" CPI inflation reading. The "surprise".........
CPI increased by 0.3%.
The expectation was......
0.4%
0.
The Wall Street cheerleaders who have been urging the Fed to cut interest rates because of the increasing financial stress apparently did not get the memo from consumers based on the current spending data, which accelerated in March following a 'slowdown' in February. March consumer spending was up 5.9%
The problem with a Federal Reserve who says they are both 'data-driven' but calls the data 'noisy' is it is difficult to determine whether or not the most recent data will change their mind. Their track record in predicting things like an implosion of a tech stock bubble, a financial
