Something Wicked This Way Comes

Get ready folks. The Federal Reserve Chairman, Jerome Powell, spoke to Sweden’s Riksbank, their central bank, yesterday, and what he said should be on the front page of every newspaper and lead story in every newscast.

He started with this:

“Price stability is the bedrock of a healthy economy and provides the public with immeasurable benefits over time. But restoring price stability when inflation is high can require measures that are not popular in the short term as we raise interest rates to slow the economy.”

Then he dropped this bomb you need to both read, read again, and digest.