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"For Powell The First Cut Was Always Easy; Now Comes The Much Harder Part..."
"For Powell The First Cut Was Always Easy; Now Comes The Much Harder Part..." By Michael Every of Rabobank As a central banker, you’ve failed to communicate when you prompt our Fed watcher, Philip Marey, to quote Orwell back at you. After the FOMC cut 50bps to 5.00%, as only in past crises, yet Fed Chair Powell said he wasn’t behind the curve, just “recalibrating”, and the US economy is “good”, Philip’s retort was: “Really? A 50bps cut as a message that the econom
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