Powell changes his tune on the recession forecast:
Before he and everyone else in the government were saying there won’t be a recession.
Now, Powell is saying there might be a recession, but it’s not our intention to cause one.
Even though it is their intention to cause one.
You have been warned.
As I’ve said in the past: the Fed can never admit it, but the only real way for them to tame inflation is to cause a recession.
A recession is bad for them (and all of us), to be sure. But it’s better than the destruction of the US dollar.