The economy is already flying off the cliff, but don’t worry…. Jerome Powell not only has the breaks full pressed, he’s pulling-up on the emergency break too.
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Discussion
Yes.
Is it finally the time where the curtains are pulled up on the wizard of oz showing how powerless he actually is if we don’t give him that power
enough already Señor Powell. I'm gonna protest by buying more Bitcoin
💯
The only good part about seeing this note, is finding out zerohedge is on #nostr
It appears the ACTUAL monetary policy is to raise until something breaks… then reverse. But only AFTER something cracks.
Maybe just maybe this is an attempt to get back to 2% inflation target and also undo all the accumulated inflation that was above those 2% and get back on track 😂
Maybe, just maybe, it’s an attempt to make inflation double digits because three whole companies (most likely too big to fail banks) will be the only ones left to provide products and services to every industry. You can’t print supply chains. 🤷♂️
If he would reverse then it makes money cheaper, nudges economy and drives inflation up again. Unless there is massive productivity and manufacturing gain that would offset it. I don't see any easy way out of it.
Preston, what would you do as a Fed chairman considering that you can't resign?