Really?
No kidding?
How could ya tell?
What gave it away?
“GDPNow has a strong track record, and the closer we get to July 28th’s release [of the initial Q2 GDP estimate] the more accurate it becomes,” wrote Nicholas Colas, co-founder of DataTrek Research.
(June 28th, mark the date, that is the second quarter GDP estimate release date. Worth mentioning there are three releases for measuring GDP each quarter. An "initial' release (like we will get on Jume28th) an "adjusted" release a lil while later, and then finally the official #'s yet still a lil while after the adjusted.)
"At a panel discussion earlier this week presented by the European Union, Powell was asked what he would tell the American people about how long it will take for monetary policy to tackle the surging cost of living.
He said he would tell the public, “We fully understand and appreciate the pain people are going through dealing with higher inflation, that we have the tools to address that and the resolve to use them, and that we are committed to and will succeed in getting inflation down to 2%. The process is highly likely to involve some pain, but the worse pain would be from failing to address this high inflation and allowing it to become persistent.”
(No they absolutely do not have the tools and people are starting to figure it out, it's why there is a dark cloud hanging over the country right now. Somebody holler at me when the Fed start building oil refineries and then I'll start believing they "have the tools to address that." Never even mind the fact of who told you two years ago they didnt have the tools.)
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