1. Mar 2020: Inflation won’t be a problem 2. Jan 2021: Inflation is “transitory” 3. Sept 2021: Interest rates won’t rise until 2024 4. Jan 2022: Recession is needed to lower inflation 5. Dec 2022: Disinflation has begun 6. Feb 2023: A “soft landing” is possible 7. Mar 2023: Banking _ is “stable” 8. NOW: Fed staff “no longer expects a recession”
Not a single statement has been correct.
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Jerome Powell and the Fed since 2020:
1. Mar 2020: Inflation won’t be a problem
2. Jan 2021: Inflation is “transitory”
3. Sept 2021: Interest rates won’t rise until 2024
4. Jan 2022: Recession is needed to lower inflation
5. Dec 2022: Disinflation has begun
6. Feb 2023: A “soft landing” is possible
7. Mar 2023: Banking _ is “stable”
8. NOW: Fed staff “no longer expects a recession”
Not a single statement has been correct.