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Fed's Powell: The bigger mistake remains not getting rates high enough
FED'S POWELL: THE BIGGER MISTAKE REMAINS NOT GETTING RATES HIGH ENOUGH.
— Breaking Market News (@financialjuice) November 9, 2023
Added at 3:31pm
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Powell: The fed-funds rate is around 5.3% and if expected one-year ahead inflation is around 3%, that implies a real rate above 2%
— Nick Timiraos (@NickTimiraos) November 9, 2023
He says that's "well above" mainstream estimates of the neutral rate, and policy is "probably significantly restrictive"