• Intraday First Word
Wed November 30

Fed Chair Powell is speaking at the Brookings Institution and while his overall comments were the same tough love talk -- "higher for longer" -- he also made two comments which we interpret as hinting at the pre-conditions to change the Fed policy "playbook":First, Powell...

Chris Turgeon KCJhIzJKgGg Unsplash
intraday
  • US Policy
Fri September 9

Powell Speaks and Congress Faces Funding Deadline

On Thursday Fed Chair Powell spoke at the Cato Institute’s Monetary Conference and reiterated the Fed’s commitment to achieving 2% inflation. It was a strong signal to markets that the message he sent at Jackson Hole was not a “one off” but the policy of the Fed to roll back...

  • US Policy
Fri August 26

Powell speaks and DC looks to avoid shutdown

Those who follow markets and policy were all anticipating the speech at the Jackson Hole gathering of Fed officials and economists of Fed Chair Jay Powell. The speech was short and to the point: inflation remains the central banks number one concern, and action to bring inflation down is the...

  • US Policy
Mon August 22

Powell speaks, Congress agenda and Midterms

Friday could be a big day for Fed Watchers as Chair Jay Powell will address the annual gathering of Fed officials and economists at Jackson Hole, Wyoming.  The confab is organized each year by the Kansas City Fed.  Chair Powell is scheduled to speak Friday at 10:00 EDT. Chair Powell...

  • US Policy
Fri August 19

Powell speech, August doldrums

Next week the major public policy event will be in Jackson Hole, Wyoming where Chair Powell is scheduled to give a major policy address. Over the years the gathering at Jackson Hole, organized by the Kansas City Fed, has become the spot for major addresses by Fed Chairs. As is...

  • US Policy
Mon February 14

Big week for Powell and government budget

The Fed is going to be front and center this coming week as talk about rate increases continues and the Senate Banking Committee is scheduled to vote on the nominations for Powell to be chair and three other candidates to fill vacancies on the Board.   March 15/16 meeting of...

  • US Policy
Tue January 18

Powell progresses, Budget next up

Chair Powell got through Senate confirmation hearing and is on path to second term.  Biden nominates three more Board Members: two blacks, two women: more diversity.Fed rate decisions: surprise vs telegraph – Fed telegraphing March increase.Congressional appropriators meet to try and find agreement on budget for current fiscal year as...

  • Fed Watch
Fri December 3, 2021

Powell Comments Prompt Mini-Tantrum, Vice Chair For Supervision Likely Between Bostic, Raskin and Cordray

The financial media is abuzz with whether Lael Brainerd or Jerome Powell will be the next Chairman of the Federal Reserve. We have been reporting on the issue as political trade winds have blown and despite Powell’s steadily diminishing chances, we’d say that as of right now it looks likely...

  • Fed Watch
Fri August 27, 2021

Powell Announces Fed Will Begin Tapering By End Of Year

The long-awaited Jackson Hole Summit has arrived. Chairman Powell gave his speech at 10 am EST on Friday and announced that the Central Bank was likely to begin tapering before the year ends while keeping his options open due to the Delta variant. The symposium was held virtually for the...

  • Fed Watch
Fri July 16, 2021

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...

  • Fed Watch
Fri April 23, 2021

Powell Says Fed Will Not Allow Large Overshoot on Inflation

Federal Reserve Chairman Jay Powell answered a letter from Senator Rick Scott (R-FL) outlining concerns about a potentially significant rise in inflation. His response gave some more contours to the Fed’s intentions around it’s mysterious Adjustable Inflation Target (AIT) framework. The Fed chairman usually avoids tying himself into any obligatory...