- Jerome Powell, Fed chair, attempted to put the stock market straight today by announcing that the Fed would do whatever was necessary to stop inflation.
- This was a catch-up speech trying to turn around the feeling coming out of the FOMC meeting last week that the Fed was not really very serious about its inflation-fighting.
- And, the stock market fell, something it had not done following the FOMC meeting last week.
- Hopefully, Mr. Powell will live up to the promise to do whatever is necessary to stop inflation.
For further details see:
Woops, I Really Meant We Would Be Much Tighter - Jerome Powell