Duke University professor of Finance talks to #CNBC and says that the US Federal Reserve (The #FED) has overshot and that a self-inflicted #recession is almost a certainty in 2024.
Well its been years since I have been accused of being a #fed, but I didn't expect it would happen for acknowledging that #Republicans will have a #base in the states as long #Democrats continue to deny the rights of the #unborn and #gun owners. Dang some weak moderates 'round here.
Then again what do I suspect from a "unionist" advising the working class against radicalism.
#Fed Chair Jerome Powell says smaller rate hikes could start next month, but hikes will continue until #inflation is dead.
As I continue to watch friends and family members face the economic headwinds, I remember that he may speak our language, but he's not one of us and he's not our friend.
I think Powell's misanalysis of the causes of the current inflation spike may very likely cause the Federal Reserve's #FOMC (Federal Open Market Committee) to raise rates too much and too late, tipping the economy into recession.
I think they're still responding too slowly. The danger is that they will continue to fall behind the price increases, leading to larger increases later in the year and overshooting. This could in turn lead to a steep recession.