By Joseph V. Amato, President and Chief Investment Officer - Equities
The Fed Chair has been stretching semantics on inflation, but his growth outlook mirrors ours.
Last week, U.S. Federal Reserve Chair Jerome Powell added a new word to the central bank watcher's lexicon: "transitory."
Look up the word in Webster's dictionary and you'll find that it means "adj. of brief duration, temporary, not persistent." It was therefore a little surprising to hear Powell apply it to the slow rate of inflation in his latest press conference.
Hasn't U.S. Personal Consumption Expenditure (PCE) been struggling