At the post-meeting press conference, Powell demonstrated the central bank’s understanding of the optics around its balance sheet expansion.
The Fed maintaining it’s not generating inflation is laughable. What’s tragic is Powell knows it but can’t acknowledge it. In his first Jackson Hole pre-Pivot speech he recognized financial excesses not inflation catalyzed last 2 recessions
— Danielle DiMartino Booth (@DiMartinoBooth) February 8, 2020
— Bloomberg Economics (@economics) February 9, 2020