Buckle up. Fed is going full Inflation HAWK. 75 basis points now and again and again till stocks and housing implodes. And workers are brought back to line.
Market Winter is here. adamtooze.substack.com/p/chartbook-12…
Market Winter is here. adamtooze.substack.com/p/chartbook-12…
Powell wants to crush inflation. No more running the labor market hot to let wages rise. The goal now is "to get wages down" and increase employer power.
RIP #Bidenomics
policytensor.substack.com/p/the-making-o…
RIP #Bidenomics
policytensor.substack.com/p/the-making-o…
that part above about Fed imposing worker discipline is not in quotes i.e Powell did not actually say that.
@jul1arock reported on that May 4 Fed presser. Her piece has some direct Powell quotes.
levernews.com/the-fed-declar…
@jul1arock reported on that May 4 Fed presser. Her piece has some direct Powell quotes.
levernews.com/the-fed-declar…
Inflation is always and everywhere a political phenomenon. Why do ordinary people hate inflation? "The answer has to do with the moral economy of price stability." That is, the consent of the governed to elite rule. Nice @policytensor thread:
https://twitter.com/policytensor/status/1526109889977847808
Goodbye Biden Boom. Welcome Recession. Give the people what they want - crashing incomes, crashing house and stock prices and 3 years of recession!
https://twitter.com/IrvingSwisher/status/1537134691349831681
Fed raises rates:
House & stocks fall
Incomes fall
Unemployment increases
Dollar soars, EM currencies fall
Debt detonates in developing countries as interest payments increase
Global recession next year
There were alternatives to controlling inflation rooseveltinstitute.org/publications/r…
House & stocks fall
Incomes fall
Unemployment increases
Dollar soars, EM currencies fall
Debt detonates in developing countries as interest payments increase
Global recession next year
There were alternatives to controlling inflation rooseveltinstitute.org/publications/r…
Fed chair Powell: "If you don't have price stability, the Economy won't work the way it's supposed to"
The Politics in the Economy @johnauthers :
bloomberg.com/opinion/articl…
The Politics in the Economy @johnauthers :
bloomberg.com/opinion/articl…
RT @talmonsmith a majorly overlooked statement made by Fed Chair Powell during his news conference today:
"*Wages are NOT principally responsible for the inflation that we’re seeing..." emphasis mine, full transcript here:
wsj.com/articles/trans…
"*Wages are NOT principally responsible for the inflation that we’re seeing..." emphasis mine, full transcript here:
wsj.com/articles/trans…
There should be enough domestic pushback from asset-owners (houses,stocks,bonds all getting crushed) for this Fed hiking cycle to not last long right?
Been tracking the debt detonating in developing world in this thread since March prospect.org/world/developi…
Been tracking the debt detonating in developing world in this thread since March prospect.org/world/developi…
https://twitter.com/70sBachchan/status/1511163700023017476
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