Will Jerome Powell be like Volcker or Burns? https://ift.tt/uZyB4LX no free lunch. To increase its chances of getting inflation back down to 2%, the Fed has to be willing to push short-term interest rates higher when the economy doesn't slow sufficiently and the labor market remains too tight. That increases the likelihood of recession. Volcker did what was necessary and beat inflation. Burns didn't, and failed. How does Powell want to be remembered?
Monday, October 24, 2022
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