Will the Federal Reserve continue to battle virulent inflation by aggressively raising interest rates in September? Markets around the world scrutinized Chairman Powell’s recent remarks to shed light on that critical question.
To gain more conclusive insight, consider the following quotes taken directly from his speech:
“Yes, yes, yes.”
“No, no, no.”
“Yes, yes.”
“No, no.”
“Maybe, maybe not.”
Careful analysis of these remarks yields one inescapable conclusion: Powell does not know.