A cyclist rides past the Federal Reserve building in Washington on June 20. Fed chair Jerome Powell told Congress last week that the Fed would wait for “actual evidence of actual inflation” before increasing rates – a monetary policy equivalent of leaving the door to a stable of expensive racehorses wide open. Photo: Bloomberg
A cyclist rides past the Federal Reserve building in Washington on June 20. Fed chair Jerome Powell told Congress last week that the Fed would wait for “actual evidence of actual inflation” before increasing rates – a monetary policy equivalent of leaving the door to a stable of expensive racehorses wide open. Photo: Bloomberg
Richard Harris
Opinion

Opinion

The View by Richard Harris

Market analysis in one question: has the Fed lost the plot on inflation?

  • Investors remain assured that central banks will issue more debt if things turn sticky, but they will take flight the moment they sense the Fed has lost control of inflation and will have to raise interest rates

A cyclist rides past the Federal Reserve building in Washington on June 20. Fed chair Jerome Powell told Congress last week that the Fed would wait for “actual evidence of actual inflation” before increasing rates – a monetary policy equivalent of leaving the door to a stable of expensive racehorses wide open. Photo: Bloomberg
A cyclist rides past the Federal Reserve building in Washington on June 20. Fed chair Jerome Powell told Congress last week that the Fed would wait for “actual evidence of actual inflation” before increasing rates – a monetary policy equivalent of leaving the door to a stable of expensive racehorses wide open. Photo: Bloomberg
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