Powell’s Opportunity to Redeem Himself..
It would be refreshing if Powell tomorrow honored the most important part of the FED mandate, Economic Stability. The markets are screaming for it. They are tired of the pattern of volatility that Bernanke started in the fall of 2011.
He doesn’t need to pivot, just embrace a 4.0% rate and state that is the rate that will prevail for some time as markets learn to live with it.