Powell Stands Strong In Accommodative Posture At Testimony

Federal Reserve Chairman Jay Powell testified before Congress this week and, as usual, stuck to the expected talking points. He was pressed particularly hard on inflation by Republican lawmakers. You may or may not be surprised by what he said, but essentially it is more of the transitory narrative. Opposition to runaway inflation has, after all, probably been amongst the most potent political forces in history. Just ask Louis XVI. Nonetheless, Powell and the governors remain publicly confident...

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