- Februar 9, 2022
While Powell may desire to pivot back to a Dove as the stock market and economic data begins to falter, he cannot easily do so…not while inflation has risen to a forty-year high. During the previous round of QT, inflation was below the Fed’s 2% target. Powell no longer has the luxury to claim inflation is quiescent. Also, the Fed’s balance sheet has doubled since the first QT program.
