First the Fed said inflation is transitory which ended up WRONG. Now they said they could pull off a soft landing on Economy.
POWELL: INFLATION HAS SURPRISED TO UPSIDE AND FURTHER SURPRISES COULD BE IN STORE
— *Walter Bloomberg (@DeItaone) May 4, 2022
FED'S POWELL: WE'LL HAVE TO LOOK INTO THAT AND SEE IF WE CAN GET SOME PRICE STABILITY OUT OF IT, BUT THIS WILL BE CHALLENGING.
— Breaking News | FinancialJuice (@Financialjuice1) May 4, 2022
Powell sees strong jobs, strong economy, good chance of soft landing etc. etc. etc.
Seeks to avoid hiking rates above neutral as a "practical" consideration but will if necessary for "price stability".
— Mike "Mish" Shedlock (@MishGEA) May 4, 2022
FED'S POWELL: SINCE THE PANDEMIC, WE'VE BEEN SLAMMED BY HISTORICALLY BIG INFLATIONARY SHOCKS.
— Breaking News | FinancialJuice (@Financialjuice1) May 4, 2022
Inflation forever https://t.co/ENAOTG4zbB
— Livingston (@RetirementRight) May 4, 2022
Powell:
Raising rates is unpleasant… but ultimately everyone will be better off.
— unusual_whales (@unusual_whales) May 4, 2022
Jay Powell walks into a small business and says "the labor market is incredibly strong"
ADP – Small business employment fell by 120,000 in April.
You couldn't make it up.
Small business is the lifeblood of the economy and still accounts for 49% of private jobs.. pic.twitter.com/fBr0RZeImP
— PPG (@PPGMacro) May 4, 2022