Afternoon Note
The market opened tentatively making it even more vulnerable when the highest-ranking dove on the FOMC voting committee laid out the case for aggressive action, including immediately drawing down the balance sheet. Lael Brainerd also made a curious admission about the Fed only just now understanding the impact of inflation on different households.
Excerpts
Variation in the Inflation Experiences of Households
Governor Lael Brainard
https://www.federalreserve.gov/newsevents/speech/brainard20220405a.htm
I have to say I’m shocked the Federal Reserve admits they don’t understand the ways inflation experiences vary from household and across different income and demographics.
The Market
I doubt the market stages any kind of strong rally higher, but it’s the kind of move I want to see for greater confidence to buy weakness later in the week.
Comments |
How ridiculous that the elitists on the FOMC are finally realizing not everyone is rich like them! Beverly Pellegrino on 4/5/2022 1:30:48 PM |
That's embarrassing. She's a little late to the party. Mike on 4/5/2022 1:38:31 PM |
The comments from the Federal Reserve is just more proof of how out of touch our government bureaucrats are. At least the indexes seem to be finding a higher support level after the stupid comment. John Barry on 4/5/2022 3:38:58 PM |
Nuts! Bottom line the Fed was created for the one percent of the one percent and will never deviate from its true mission. CP Charles Payne on 4/5/2022 3:51:14 PM |
How can these people running monetary policy be soo insulated and soo ignorant? J Arthur on 4/5/2022 3:54:30 PM |
They should just try living in a small blue collar rural area for a while and really find out how the other 70% live! Disgraceful that hese comments are coming from a person who is supposed to understand Econ 101. Stephen A Kaad on 4/6/2022 3:05:09 PM |
Tweet |
4/17/2024 1:59 PM | Facing Pressure |
4/17/2024 9:37 AM | POWELL STILL WANTS TO HELP |
4/16/2024 1:35 PM | Muted |
4/16/2024 9:42 AM | FEAR ARRIVES |
4/15/2024 1:17 PM | Making a Statement |
4/15/2024 9:45 AM | Equal Opportunity Drubbing |
4/12/2024 1:37 PM | Pressure Overall |
4/12/2024 9:42 AM | WHO YA GONNA CALL? |
4/11/2024 1:38 PM | No Urgency |
4/11/2024 9:27 AM | Tough Sledding |
4/10/2024 1:22 PM | Hang In There |
4/10/2024 9:51 AM | HERE COMES THE LATEST RATIONALE FOR PERSISTENT INFLATION |
4/9/2024 1:56 PM | Fighting the Trend |
4/9/2024 9:46 AM | NEXT TIME, MAKE IT A HOLIDAY |
4/8/2024 9:45 PM | Cautious Feel |
4/8/2024 7:19 AM | IT’S ECLIPSE DAY |
4/5/2024 1:51 PM | Higher and Cheaper |
4/5/2024 9:23 AM | MARKETS REEL ON BIDEN’S ISRAEL ULTIMATUM |
4/4/2024 1:42 PM | Stocks Bounce |
4/4/2024 9:31 AM | ESCAPING GRAVITY = ESCAPING REALITY? |
4/3/2024 1:41 PM | Cuts Not Soon |
4/3/2024 9:33 AM | A LITTLE LESS SWAGGER |
4/2/2024 1:16 PM | Under Pressure |
4/2/2024 9:49 AM | HIGHER PRICES & JOBS LOSS – “NO” ON FED BINGO CARD |
4/1/2024 10:00 AM | OF COURSE, HE CAN WAIT…THE DATA STILL NOT ADDING UP |
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