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Yes, but not directly. If you listen to the last FOMC meeting, Powell mentions there will likely be significant weakening of the labor market and a rise of unem
by mostly_harmless 4y ago
Yes, but not directly. If you listen to the last FOMC meeting, Powell mentions there will likely be significant weakening of the labor market and a rise of unemployment. As well as his famous "there will be pain" remarks.
I don't think he directly said "he won't stop until" though.
- importantbrian 4y agoYeah, I mean maintaining full employment is one of the fed's mandates. It would be an insane thing for a fed chair to just come out and say. I assume he want's to keep his job, and pissing off the Senate isn't the way to go about that.
- deleted 4y ago[deleted]
- Aunche 4y agoUnlike smooth talking politicians, the Federal Reserve actually tries to be honest about the effects of their policies. This is something that should be applauded, not exploited as a means to get political capital.
- aschearer 4y agoI'm not sure why you think this is true. For month's Powell has been shifting the narrative. First it was under control, then it was a soft landing, now it's going to be a rough landing. What'll it be tomorrow? I don't think they're being dishonest. I think they're constrained in how forthright they can be, lest they trigger a market reaction.
- Aunche 4y ago> I think they're constrained in how forthright they can be, lest they trigger a market reaction. This is why I said that they try to be honest. Doctors are also inclined to err on the side of optimism when they are uncertain. The difference is that nobody is making conspiracy theories about doctors actually wanting to make their patients sick.
- aschearer 4y agoTell that to Fauci.