Playing out quite well, isn't it!
Measured by the DOW? If it was spewing a worthless opinion and analysis while using the DOW as a measuring stick and "running around crying about the sky falling" a few months ago, is it not also spewing a worthless opinion and analysis a few months later to run around crowing that all is going quite well with that as your stick?
Powell to the people
"While the labor market appears to be in balance, it is a curious kind of balance that results from a marked slowing in both the supply of and demand for workers," Powell said. "This unusual situation suggests that downside risks to employment are rising, and if those risks materialize, they can do so quickly in the form of sharply higher layoffs and rising unemployment."
"The
effects of tariffs on consumer prices are now clearly visible. We expect those effects to accumulate over coming months, with high uncertainty about both timing and amounts. The question that matters for monetary policy is whether these price increases are likely to materially raise the risk of an ongoing inflation problem," Powell said.
"A reasonable base case is that the effects will be relatively short-lived, a one-time shift in the price level. Of course, one time does not mean all at once. It will continue to take time for tariff increases to work their way through supply chains and distribution networks. Moreover, tariff rates continue to evolve, potentially prolonging the adjustment process," he said.
"It's also possible, however, that the upward pressure on prices front tariffs could spur a more lasting
inflation dynamic, and that is a risk to be assessed and managed."
Let's let it all play out and see what happens.
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