“Softish” Is The New Transitory?

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.

— FinancialJuice (@financialjuice) 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.

— FinancialJuice (@financialjuice) May 4, 2022

https://twitter.com/RetirementRight/status/1521928879044186115

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