AM Notes: Transitory taper talk
Powell was on top form last night, batting away every question with ease...
"You think we're going to talk about tapering while there are still 8.5 million unemployed and all of the inflation concerns are due to TRANSITORY supply chain bottlenecks?
You guys crack me up!"
"We're just going to need to see more data. It's not more complicated than that."
It really seems that a lot of market commentators haven't understood AIT, and markets are still pricing strong odds of the first hike in December 2022...
It could happen, providing everything goes EXTREMELY smoothly but that's