Powell has a zillion really good PhD economists slicing and dicing the inflation data, and if they're telling him Jan/Feb uptick is mostly noise, we should all take that on board.
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@greg_ip Were they the same really good PhD economists slicing and dicing the inflation data and telling Powell that inflation was transitory in 2021 and, as such, that interest rates wouldn’t need to go up? Or are they an entirely new bunch?
@KingEconomist @greg_ip Maybe we just need to add another 20% cumulative increase while Powell and company celebrate inflation finally being “tamed”……