Forbes - Markets
Fed Facing An Uh-Oh Moment -- Again
The optimism from Fed speakers this past weekend, essentially “recent data show growth, we won’t be dissuaded by market volatility”, is right out of the Central Banker’s playbook. We understand it is a central banker’s job to be upbeat about the economy, even when easing during a recession. The disparity between the statements in Jackson Hole and the slowdown in global growth driving capital market pricing caused us to drift back to early 2007, when the Fed acknowledged issues in the housing market but remained undaunted in their upbeat assessment of the US economy.
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