Anyone surprised by Fed Chairman Powell’s speech at Jackson Hole should have their head examined. No two ways about it because the Fed aims for consistency in their messaging. And they have been CONSISTENLY saying that inflation is way too high and they need to be vigilant in fighting that battle.
This absolutely, positively will cause “pain” to the economy. The only question is how much harm it will do. Yes, a soft landing is possible...but recession is more probable.
