Telegram
Tapering Conversation Heating Up, Powell’s Prospects

The Jackson Hole summit has become one of the most important economic summits in the world. Many expect that this hallowed event with humble origins may be the long-anticipated venue for the Fed to communicate their monetary policy plans to the American people. In 1982, the nascent event was chosen to be put in the then very remote town of Jackson Hole, Wyoming because of a unique vulnerability its organizers attempted to exploit to ensure Federal Reserve Chairman Paul Volcker’s attendance; his deep affinity for fly fishing.

The divide on the Board has been increasing. Seven Governors want to taper much earlier than the other thirteen. St. Louis Fed President Jeremy Bullard is becoming one of the leading public-faces of this faction. He has been stating publicly that there are many reasons to be more cautious and not assume the transitory inflation narrative is a ‘sure-thing.’ Recent data releases have certainly gotten his viewpoint more attention, particularly since many Fixed Income investors who have repeatedly lost money trying to time bonds always love to have someone other than themselves to blame. Despite this dynamic and the sometimes-virulent anti-Fed skepticism encountered on various corners of Wall Street, the hawks are gaining credibility. We dove deep into the inflation numbers in last week’s Wall Street Debrief and ultimately more data will be needed to see who is right.

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 FSInsight, please Sign In here. If you don’t have a subscription to FSInsight yet, you can sign up below.

Choose one of our yearly plans to save nearly 15%

We accept crypto via BitPay for yearly subscriptions.
    • Macro
      FSI Macro
      from
      $
      199
      /mo
      billed anually
      Get access to all the macro research on FSInsight

        Tom Lee's First Word

        Tom Lee’s Equity Strategy

        Stock Lists

        ETF Sector Allocation

        Wall Street Whispers

        Signal From Noise

        Technical Analysis

        US Policy

        Fed Watch

        Live Webinars with Q&A

      First Month Free!
    • Crypto
      FSI Digital Assets
      from
      $
      99
      /mo
      billed anually
      Get access to all the crypto research on FSInsight

        Crypto Daily

        Crypto First Word from Tom Lee

        Crypto Blasts

        Crypto Weekly

        Crypto Technical Analysis

        Bitcoin Valuation

        Bitcoin Misery Index

        Live Webinars with Q&A

        -

        -

      First Month Free!
    • Macro + Crypto
      FSI Pro
      from
      $
      249
      /mo
      billed anually
      Get access to all the exclusive research on FSInsight

        Looking at code?

        I am hidden!

        -

        FSI Macro

        +

        FSI Digital Assets

        Designed by

        HANGAR115

        -

        -

      First Month Free!

More from the author

Disclosures (show)

Want to receive Regular Market Updates to your Inbox?

I am your default error :)
FSInsight logo
150 East 52nd St, 3rd Floor, New York, NY 10022

Subscribe to our Free Weekly Report

An institutional-grade report delivered to your inbox every week.

© 2021 FSInsight. All rights reserved. Developed by HANGAR115.

Illustrations by Karl Wimer.