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  • Fed Chair Powell calls inflation ‘frustrating’ and sees it running into next year

    From cnbc.com

    Federal Reserve Chairman Jerome Powell still expects inflation to ease eventually, but said Wednesday that he sees the current pressures running into 2022. Assessing the current economic situation, the Fed chief said during a panel discussion hosted by the European Central Bank that he was “frustrated” that getting people vaccinated and arresting the spread of the Covid delta variant “remains the most important economic policy that we have.” “It’s also frustrating to see the bottlenecks and supply chain problems not getting better — in fact at the margins apparently getting a little bit worse,” he ... (full story)

My position remains intact. Having enter short from 1.1709 for EUR/USD. To God be the glory!
Transitory narrative continues to be the Hope of fed.
However the real world of Logistical supply struggles while weather remains fair in Northern Hemisphere.
Fall and Winter approach quickly along with transportation arteries getting further inhibited by natural phenomenon such as Ice and Rain.
If things can not get to market when Transport is open how are things going to get to market over long distances when natural phenomenon turn against?

Shortages of primary necessities of Life will be impacting cities in short order. Ideologues meanwhile fret over image.

add; Prior Supply shock Recessions generally result from too much debt needing service accompanied by inability to generate cash flow.
How can the Fed manage a demand-driven economy by pushing demand higher when the supply chain is flatlined? How can the Fed control the uncontrollable cpi by keeping printing more while prices predictably going wild? How can Mr. Chairman gets frustrated while the "transitory" inflation lasting longer by his doings? Warren is right. this man is dangerous.
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