Fed's Powell: The market rate path differs from the Fed's forecast. Policy is restrictive, and we are concerned about the lag effects of tightening.
— Cheddar Flow (@CheddarFlow) May 19, 2023
Fed's Powell Says Fed strongly committed to returning to 2% goal. Failure would cause greater harm
— Cheddar Flow (@CheddarFlow) May 19, 2023
translation: more bank failures imminent https://t.co/rP3TvAb9zv
— zerohedge (@zerohedge) May 19, 2023
Fed's Powell: So far, data appear to support the committee's view that lowering inflation will take time. Data supports the view that inflation will be slow.
— Cheddar Flow (@CheddarFlow) May 19, 2023
Opinion: The Fed and other central banks face a reckoning for the damage they’ve caused