#recession #money #recession2023 #money  #inflation #deflation #interestrates #dollar #economy #credit #interestrates 
They were all lovey-dovish last month in pausing rate hikes, then last week suddenly they're all hawks again. What changed? It wasn't the economy nor the economic data derived from it. The Fed's entire worldview is exposed when markets diverge from policymakers' preferred path. From rate hikes to the Phillips Curve, there is no basis for what central bankers do...accept to manipulate public opinion.

Eurodollar University's Money & Macro Analysis

Chair Jerome H. Powell At "Monetary Policy Challenges in a Global Economy," a policy panel at the 24th Jacques Polak Annual Research Conference, hosted by the International Monetary Fund, Washington, D.C.
https://www.federalreserve.gov/newsevents/speech/powell20231109a.htm

NBER: IT’S BAAACK: THE SURGE IN INFLATION IN THE 2020S AND THE RETURN
OF THE NON-LINEAR PHILLIPS CURVE
https://www.nber.org/system/files/working_papers/w31197/w31197.pdf

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