Jerome Powell Rocks the Market
Poor Jerome Powell. This unlikely Atlas bears all the world’s weight upon his slender shoulders.
We hazard he ages one year for each torturous day he lives.
Anything he mumbles or fails to mumble can send markets careening.
Early yesterday afternoon, he mumbled something to
The Wall Street Journal:
We expect that as the economy reopens and hopefully picks up, we will see inflation move up through base effects. That could create some upward pressure on prices… We want inflation expectations to be anchored at 2%. Inflation is running below 2% and has done so since the pandemic arrived… Today we’re still a long way from our goals of maximum employment and inflation averaging 2% over time.