Powell Raises Rates To A 22-Year High, Is This The End? | Jim Bianco
Inflection Point
00:00
The Fed's Data Dependency
Jim Cevallos: It seems like higher interest rates, around the 5% fed funds rate and above, are going to be with us for longer than probably most of us would like. He says Fed is committed to getting our inflation rate back to our long run inflation rate go back to 2%. Inflation impacts 100% of the population, 50 to 55% of the public has less than $10,000 of savings; they don't have any savings at all. If 1% of the economy is displaced by higher unemployment, that's a trade-off he's willing to take,Cevallos says. "If I was a public official and I said it that way
Play episode from 12:23
Transcript
