yeah, that's, colloquially, fed-speak for "don't make me turn this car around, I'll do it, so help me god".
What he's saying there is they're willing to crank interest rates even if it slows the economy down and pushes unemployment sky-high. The Fed's dual mandates are price stability and full employment and they've just signaled which horse they're gonna back.
This is the first time in living memory that we've seen a market where labor is valuable and has the upper hand in negotiations and the wealthy absolutely will not abide that.
Most of the problem is still pandemic-related supply shocks and supply chain bubbles, plus energy going nuts from the russia thing. It truly is transitory and not based on changes to long-term market fundamentals. But the needle was starting to move up on worker compensation/etc and they gotta put a stop to that, can't let the plebs get a taste for financial stability.
What he's saying there is they're willing to crank interest rates even if it slows the economy down and pushes unemployment sky-high. The Fed's dual mandates are price stability and full employment and they've just signaled which horse they're gonna back.
This is the first time in living memory that we've seen a market where labor is valuable and has the upper hand in negotiations and the wealthy absolutely will not abide that.
Most of the problem is still pandemic-related supply shocks and supply chain bubbles, plus energy going nuts from the russia thing. It truly is transitory and not based on changes to long-term market fundamentals. But the needle was starting to move up on worker compensation/etc and they gotta put a stop to that, can't let the plebs get a taste for financial stability.