President Biden is the last optimist standing.
Fed Chair Jerome Powell made clear this week that a recession won’t stop the Fed from hiking interest rates as high as necessary to crank down inflation. He even sounded like he’s eager for a recession.
After Powell testified before Congress on June 22, Fed whisperers explained that Powell was using fightin’ words uncharacteristic of his usually genteel approach. He said a recession caused by the Fed’s own monetary tightening remains a…
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