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2022-05-05

It beggars belief that Powell could crush consumer price inflation while leaving asset prices intact

Arguably the most significant aspect of the Fed’s is the fact that it pledged to start trimming its holdings of mortgages and treasuries by $47.5bn each month, starting in June — and accelerate this to a $90bn monthly reduction from September.

QT on this scale has never occurred before, which means that neither Fed officials nor market analysts really know what to expect in advance. 

He should tell the American public and politicians that many asset prices have been pumped unsustainably high by free money.

Gillian Tett FT 5 May 2022

https://www.ft.com/content/8e007f54-d723-4f1c-a06b-ad09e2052584


Jag tycker det är skriande uppenbart att räntan världen över är för låg och att en större del av stimulanserna borde ske via finanspolitiken.

Rolf Englund blog 5 december 2009

https://englundmacro.blogspot.com/2014/08/skriande-uppenbart.html


How do you get markets not to believe that you’ll do it again and again?

https://englundmacro.blogspot.com/2022/05/how-do-you-get-markets-not-to-believe.html


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