It is ironic that Chairman Powell continues to tell us that current policy is somewhat restrictive despite the ongoing flood of liquidity in the market. I guess it helps him sound like an inflation hawk, which is critical politically given Biden's problems and the surveys showing inflation is a major problem. But, I agree, there is no evidence that things are going to weaken dramatically.
It is ironic that Chairman Powell continues to tell us that current policy is somewhat restrictive despite the ongoing flood of liquidity in the market. I guess it helps him sound like an inflation hawk, which is critical politically given Biden's problems and the surveys showing inflation is a major problem. But, I agree, there is no evidence that things are going to weaken dramatically.