1) Jackson Hole (2020): #Powell said the #Fed is changing its model to where it will not raise rates in the face of rising #inflation since the job market remains on solid footing. Jackson Hole (2021): With inflation surging to 5%...Powell said inflation will be transitory...🧵 2) and there was no reason for the Fed to raise rates. Jackson Hole (yesterday): After raising rates by the fastest pace in three decades, which caused the housing market to crash in six months, an unpresented drop in services PMI...(clear sign consumer spending is plunging)...