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Another Powell pivot raises questions about the Fed's policy credibility
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cnbc.comIf the Federal Reserve meets expectations next week and announces a more aggressive unwind of the measures taken to boost the economy, it will mark an important policy shift for the U.S. central bank and Chairman Jerome Powell.
Again.
The Powell Fed, in fact, has become almost as known for its abrupt changes in direction as it has for the unprecedented levels of stimulus it has provided during the pandemic.
«What the Fed has proven is the difficulty in forecasting by both committee and consensus,» said Joseph LaVorgna, chief economist for the Americas at Natixis and former head of the National Economic Council under former President Donald Trump. «In market parlance, the Fed has bought the high and sold the low. So I do think there will be
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