Loading ...U now have a doveish Fed/scum, in front of raging inflation…….the Rig is all they have .
From GATA o/n
‘Biden fights inflation, economists warn his weapons for this battle look ‘extremely limited’
This month Biden has put his stamp on the central bank, having appointed four governors to the seven-member Fed board.
Before Biden’s picks were approved by the Senate, the Fed’s interest-rate setting committee was heavily tilted towards hawks. But the balance has now shifted, said Ian Shephersdon, chief economist at Pantheon Macroeconomics.
“Much depends on the approach of the new governors, Lisa Cook and Philip Jefferson, neither of whom were appointed — we assume — to be hawks,” Shepherson said.
Another Biden nominee to the Fed board, Michael Barr, is awaiting Senate action. Barr sailed through his confirmation hearing and isn’t expected to face difficulty on the Senate floor.’