Public confidence in the Fed chair is near record lows: Only 37% of US adults say they have a “great deal” or a “fair amount” of confidence that the Fed Chair will do the right thing for the economy, according to a Gallup survey. For Powell, now in his second term as chair, this is the second-worst reading. By comparison, confidence peaked at 58% in 2020. This century, the only other time confidence was this low was during Janet Yellen’s term in 2014. The Fed is facing a crisis of confidence.
The Kobeissi Letter
The Kobeissi LetterAug 23, 23:38
Fed Chair Powell has caved: In 1 month, the Fed will CUT rates and blame a "weaker labor market." Meanwhile, we now have PPI inflation growth at a 3-year high and CPI inflation above 2% for 53-STRAIGHT months. Don't own assets? You will be left behind. Here's why. (a thread)
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