Who Can We Believe, the Fed Chairman or the CEOs of Coca-Cola, Procter & Gamble, General Mills, J.M. Smucker, Unilever, Campbell Soups, Shake Shack, Chipotle?
Who Can We Believe, the Fed Chairman or the CEOs of Coca-Cola, Procter & Gamble, General Mills, J.M. Smucker, Unilever, Campbell Soups, Shake Shack, Chipotle?
irwinstelzer.substack.com
Jay Powell did it. The Fed chairman has been trying to figure out how to warn investors that he can’t keep interest rates at zero forever, or continue indefinitely buying $120 billion of assets every month to pump more paper cash into the economy. Last week he issued just such a warning, without conceding to his critics that his refusal to react to current inflationary pressures was a policy failure for which the economy would eventually pay dear. Investors, or perhaps only traders, foreseeing the horrors of an economy not supported by artificially low interest rates and overactive printing presses, were rattled, with value stocks and commodities pummeled.
Who Can We Believe, the Fed Chairman or the CEOs of Coca-Cola, Procter & Gamble, General Mills, J.M. Smucker, Unilever, Campbell Soups, Shake Shack, Chipotle?
Who Can We Believe, the Fed Chairman or the…
Who Can We Believe, the Fed Chairman or the CEOs of Coca-Cola, Procter & Gamble, General Mills, J.M. Smucker, Unilever, Campbell Soups, Shake Shack, Chipotle?
Jay Powell did it. The Fed chairman has been trying to figure out how to warn investors that he can’t keep interest rates at zero forever, or continue indefinitely buying $120 billion of assets every month to pump more paper cash into the economy. Last week he issued just such a warning, without conceding to his critics that his refusal to react to current inflationary pressures was a policy failure for which the economy would eventually pay dear. Investors, or perhaps only traders, foreseeing the horrors of an economy not supported by artificially low interest rates and overactive printing presses, were rattled, with value stocks and commodities pummeled.