| > Fed has been consistently wrong over last decade in many of their policy, and their credibility is on the line This is hyperbole. The Fed, by and large, held the American economy together through the financial crisis and more remarkably the pandemic. Until now, neither of those produced meaningful levels of inflation. To say "their credibility is on the line" is to disagree with a multi-trillion dollar bond market taking the Fed's every word very much seriously. > the same Dallas Fed chairman This is the Dallas Fed's leadership [1]. None of them authored this article, certainly not the (interim) president, Meredith Black. If you want the dry stuff, what the Fed is actually saying versus its individual researchers, consult the beige book [2][3]. [1] https://www.dallasfed.org/fed/leadership.aspx [2] https://www.federalreserve.gov/monetarypolicy/beige-book-def... [3] https://www.federalreserve.gov/monetarypolicy/files/BeigeBoo... March 2 |