Speaking at some conference in DC on Thursday, Fed chairman Jerome Powell told the crowd of mostly white men in expensive suits that “Higher real rates may also reflect the possibility that inflation could be more volatile going forward than in the inter-crisis period of the 2010s. We may be entering a period of more frequent, and potentially more persistent, supply shocks – a difficult challenge for the economy and for central banks,” CNBC reports on Powell getting himself even more fired than he already was for foolishly challenging the Orange Tyrant’s narrative.
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