9 FOMC members in September guided to no rate hikes next year. Today, 10 members are guiding to three rate hikes next year. These people are lost.
— GreekFire23 (@GreekFire23) December 15, 2021
Especially Central Bankers… totally blank card in predicting everything. t.co/cFQnVvKFDR
— GregTheAnalyst (@Analyst_G) December 15, 2021
THERE IT IS
*FED MEDIAN FORECAST SHOWS THREE HIKES IN 2022, THREE IN 2023
*FED DOUBLES PACE OF TAPER TO $30 BILLION A MONTH
— Brian Chappatta (@BChappatta) December 15, 2021
Chair #Powell:
Elevated inflation pressures.
Aggregate demand remains very strong.
Continue to foresee rapid growth.
Rapid progress towards maximum employment.
Unemployment projections revised notably lower
Inflation above target well into next year
Committed to…price stability— Mohamed A. El-Erian (@elerianm) December 15, 2021
‘I do worry very much about what the Fed is doing,’ with inflation, says former Fed governor
‘I actually think they are getting behind the curve,’ Mishkin says
Frederic Mishkin, former Federal Reserve governor, on Wednesday said that he feared that the U.S. central bank might be committing a policy error and might already be behind the curve as inflation surges in many parts of the country, amplified by supply-chain bottlenecks in the aftermath of the COVID pandemic.
“I do worry very much about what the Fed is doing,” said Mishkin in an interview on CNBC on Wednesday after the central bank’s final policy update of 2021.