The View from 5th Avenue – 30 November 2021
Posted onUmm…is it too late to change that Fed appointment? We’re overreacting perhaps but Jerome started it! Is the Fed Chairman really calling for an expedited taper (and likely subsequent rate hike) due to a variant that is largely TBD while the 6% CPI print less than 3 weeks ago barely ruffled his feathers? He had only recently removed the word transitory from his language; today he suggested it a good time to ‘retire’ it in regards to inflation. Translation – they’ve lose control? Is this the ‘policy mistake’ scenario many were worried about?