How Jerome Powell’s ego could trigger a recession

MarketsInsider/William Edwards/1-30-2023

photo of Fed chairman Jerome Powell delivering Congressional testimony“Joseph E. Gagnon, a senior fellow at the Peterson Institute for International Economics and a former Federal Reserve Board associate director, told me that Powell is willing to do everything he can to avoid becoming known as the central banker that let inflation get away. ‘Powell doesn’t want his name to go down in infamy,’ he said.”

USAGOLD note: The popular Wall Street view is that Fed would like to engineer a soft landing, but that goal and controlling inflation might not be compatible. This less-than-sympathetic article does a good job of presenting the dilemma facing the Fed chairman with opinion from a number of heavyweight market analysts.

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