to clarify this from yesterday:
“It (The Fed) is ignoring deflationary and dangerous signals,” she posted to Twitter on Sunday, arguing the consumer price index lagged real-time developments. Some economists say setting policy using this type of data is equivalent to driving by looking through the rearview mirror.
She is saying that the economy has already slowed down (real time developments) and there was no need for the Fed to raise interest rates like is.
It still doesn't change the fact she's upset her punch bowl is being taken away from the party.
"Wood and many of her peers benefited from the legacy of the latter’s accommodative rate policies that inflated asset prices, especially for high-growth stocks favored by ARK Invest.'
and...
"ARK Innovation, her flagship exchange-traded fund, has seen a drop of over 23% last year and has plunged 60% so far in 2022."
What people should understand is Peter Schiff is absolutely correct, the fed is going to say and do what it would normally being saying and doing (it's a show) but it has known for quite sometime that it is helpless to do much about what we are seeing RN.
Goes back to this;
Powell announces new Fed approach to inflation that could keep rates lower for longer
That is from Aug 27th 2020.
Ya think there was a reason they might have wanted to keep interest rates lower for longer? They knew that far back the situation we were gonna be in.
and look at this nonsense:
“Right now, to put it in context, we have an unemployment rate that’s well above 10%,” said Kathy Jones, head of fixed income at Charles Schwab. “The chances of seeing significant inflation anytime soon are quite slim. With or without this policy change, the Fed was going to be at zero for a couple of years.”
Opps.
I love you baby.
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