Watch Live: Fed Chair Powell’s Excuse-Filled Press Conference
Record highs in stocks and home prices. Record plunges in affordability of stocks and homes. Record crash in homebuyer confidence. Near record spikes in inflation. Retail sales and Durable Goods orders surging. More than half of the country is vaccinated and there are a record number of job openings.
But still The Fed is holding rates at zero, and monetizing $120 billion a month in Treasuries and MBS, because “substantial further progress” remain elusive?
We suspect today’s excuse factory will include widespread use of the word “delta” for why The Fed couldn’t possibly, not now for sure,. consider talking about tapering… because at record highs, stocks are fragile…
Watch Jay Powell explain it all again and placate the masses that everything is just awesome enough to optimistic but not awesome enough to lift his foot off the pedal…
Wed, 07/28/2021 – 14:25