“It is not the beginning of a long series of rate cuts”: Powell.
In the US alone, it impacts nearly $40 trillion — with consequences for the real economy.
Inflation gets pitched as something inherently good the Fed is trying to make sure folks gets enough of. But someone’s paying the price.
The Fed could instantly claim victory and pocket the kudos.
Folks lining up on both sides of the fence.
Oh, it’s here alright.
Where is the Fed’s “U-Turn” that Wall Street promised us?
Wall Street’s fervent hopes and prayers for rate-cut ammo were not fulfilled.
The inflation index the Fed anointed as its yardstick booked two big jumps in a row: May near the top of the range since 2010; April, third largest jump since 2010.
It’s not so stealthy.