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Data, Fed Updates
Tough to keep up with this week’s news, and more is on the way. We still have the jobs report ahead of us! In the interest of time, I am going to move through this quickly: 1.) The Fed held rates steady yesterday. The basic policy outcome was not a surprise. Federal Reserve Chairman Jerome Powell’s sanguine view of low inflation, including the claim that “transitory” factors were driving low inflation, was a surprise. Powell gave little reason to think the Fed was particularly concerned about the seven years of sub-par inflation outcomes since the Fed adopted its mandate. It doesn’t seem like the Fed is ... (full story)