How to understand the Fed’s dovish turn

MarketWatch/Noriel Roubini

“Richard Clarida, a well-respected economist and market expert, joined the Fed Board as vice chair in the fall of 2018, tipping the balance of the FOMC in a more dovish direction. Before then, Fed Chair Jerome Powell’s own dovish tendencies had been kept in check by a slightly less dovish staff and the third member of the Fed’s leadership troika, New York Fed President John Williams, who expected inflation to rise gradually above target as the labor market tightened.”

USAGOLD note:  Noriel Roubini offers an interesting take on recent developments at the Fed. . . .

Repost from 3-18-2019

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