Governor Powell’s First Speech Doesn’t Sound ‘Quiet’
Federal Reserve Governor Powell, who vowed to be a "low-profile" Fed governor in support of Chairman Warsh, made sure everyone still heard him in his first speech after handing over the chairmanship.
Powell Hands Warsh a Dissent Surge, But Not Really a Divided Fed
What if I tell you the Fed officials actually disagreed more at times during the zero-against vote period than in the last meeting? This is what the FOMC minutes-based Hidden Dissent Index indicates.
Taking One Last Beth Before the Fed Blackout Period
Beth Hammack, president of the Cleveland Fed, posted on LinkedIn hours after the jobs report that "today's jobs report reaffirms that the labor market appears to be roughly in balance" and that she "believe[s] persistently high inflation is the bigger concern." If recent inflationary trends continue, "it may soon be appropriate to act," she concluded.
Central bankers are pushing back against the ‘War? Sh!’ strategy — why look-through may...
Federal Reserve governor Chris Waller on Friday cast serious doubt on the textbook look-through strategy to handle the Iran War-induced inflationary pressure — or what we fashionably called the "War? Sh~" strategy. And he is not the only central banker who has expressed reservations.
Warsh’s first FOMC meeting—a hawkish path that makes Powell the (scape)GOAT
On top of the Fed's official objectives — "maximum employment" and "2% inflation" — now sits a third: that economic growth needn't be answered with rate hikes, and perhaps even that a strong economy can still warrant rate cuts. How should Warsh handles that?
