Telegram
Fed Admits It Got 2018 Wrong, Takes Credit for 2019 Rebound

While it was a mostly quiet week in terms of Federal Reserve Board news, the chairman is no slacker. In a speech last week, Jerome Powell revealed that his fellow policymakers at the Fed had concluded that the economy wasn’t as strong in 2019 as the Fed believed it would be when it raised interest rates in 2018. Hence it cut rates again this year.

Hmmm. That sounds like the Fed was wrong, but it doesn’t sound like the august central bank is admitting it. Maybe because to do so would only embolden President Donald Trump’s thunderbolts of criticism. Anyway, the central bank has all but said it is finished with rate cutting for the time being. Of course, since it was wrong before it could be wrong again…oh, never mind.

You are trying to access FSI member-only content.
You need to have an active FSI Macro, or FSI Pro subcription in order to read this article.
If you are already a member at FS Insight, please Sign In here. If you don’t have a subscription to FS Insight yet, you can sign up below.

Choose one of our yearly plans to save nearly 20%

We accept crypto via BitPay for yearly subscriptions.
    • Macro
      FSI Macro
      from
      $
      199
      /mo
      billed anually
      Get access to all the macro research on FS Insight
      • Tom Lee's Live Market BLASTs
      • View from Tom Lee
      • Signal From Noise
      • Portfolio Strategy
      • Technical Analysis
      • Granny Shots – Stock Ideas
      • US Policy
      • Live Conference Calls with Q&A
      First Month Free!
    • Crypto
      FSI Digital Assets
      from
      $
      99
      /mo
      billed anually
      Get access to all the crypto research on FS Insight
      • Tom Lee's Live Crypto BLASTs
      • Tom's Take on Crypto
      • Crypto Weekly Newsletter
      • BitDigest Daily Newsletter
      • Crypto Technical Analysis
      • Benchmark Indices Review
      • Bitcoin Valuation & Misery Indexes
      • Live Conference Calls with Q&A
      First Month Free!
    • Macro + Crypto
      FSI Pro
      from
      $
      249
      /mo
      billed anually
      Get access to all the exclusive research on FS Insight
      • Looking at code?
      • I am hidden!
      • FSI Macro
      • +
      • FSI Digital Assets
      • Designed by
      • HANGAR115
      • -
      First Month Free!
Disclosures (show)

Want to receive Regular Market Updates to your Inbox?

I am your default error :)