The pivot is affirmed. Now Powell will watch inflation to see if there is any inflation. Brilliant.
Donald L. Luskin
Is Quantitative Tightening Over?
Monday, January 29, 2024
Powell says they’re not talking about it. The FOMC minutes say they are. Does it matter?
In the Dead of Night, the Fed Ends the Bank Term Lending Program
Thursday, January 25, 2024
It was never QE, and ending it isn’t QT. In fact, it’s just become an arb for banks.
FOMC Preview: Groupthink is Dead, Now It’s Just Lies
Friday, January 19, 2024
Powell and Jefferson are the only ones telling the truth (because they’re not speaking).
On the December Jobs Report
Friday, January 5, 2024
It’s two labor markets in one. But for our two Feds in one, now it’s all about disinflation.
2024: Deflation, Election, and No Recession
Wednesday, January 3, 2024
It’s going to be a strange year. A difficult year. A tricky year. But it will end well.
2023: Our Greatest Hits, Our Gravest Misses
Friday, December 29, 2023
No recession, inflation done, the Fed done, stocks at new highs. But bonds… China…
It’s Two! Two Feds in One! Friday, December 15, 2023
Friday, December 15, 2023
New York Fed’s Williams: who are you going to believe, me or your lying Fed chair?
On the December FOMC
Wednesday, December 13, 2023
The dots are down, the Fed is done, the cuts are coming in March.
On November CPI: Good, Not Great
Tuesday, December 12, 2023
Not the outright deflation we expected to set the stage for tomorrow’s FOMC.