ACTV - Powell Hog Tied By Inflation Or Hamstrung By Unemployment?
2024-07-08 12:08:11 ET
Summary
- Fed Chair Powell testifies this week in a highly charged political atmosphere.
- The Fed is on a hot seat and will be pressed to defend both its position on inflation as well as on unemployment developments.
- Unemployment is rising among some groups that Democratic members will find unpleasant and will push back.
- Others will find fault with the Fed's choices on inflation.
- Powell is likely to run into more criticism in this meeting than at any other testimony of his career.
Do the data really matter?
If you are at the Fed these days you just can't win. The political pressure on the Fed has become more intense. Outsiders may not recognize it, but Jay Powell begins every single press conference by saying "we are pursuing our joint goals of price stability and maximum employment," so…....
Powell Hog Tied By Inflation Or Hamstrung By Unemployment?