We can all rest easy now. Powell reckons printing the dollar like farts in the wind doesn’t cause inflation. Yes folks, you read that right. History doesn’t matter. He then said that ‘if’ strong inflation turns up they can raise rates to counter it. He also expects inflation when the economy roars back. im no genius but if it does what he says, then the influence of all this new money is going to help push up the inflation rate. Someone should tell him. This guy runs the FED folks. He doesn’t want to acknowledge the obvious but it didn’t stop the market tanking or the gold price getting sold off with the bond yields. The market wants its dummy or all hell will break lose. He was basically saying don’t worry. He keeps saying he wants 2% inflation but printing won’t help? Yeah, I believe you! Don’t worry about printing because it’s the new normal. Good luck with that mate and check your history out. The press could also try some catching up. This doesn’t make sense and they will just keep going in the mean time. Gold just got cheaper. he doesn’t want gold up either. The guy doesn’t have a choice so he is pretending that they have control over things. Good luck again, ask Greenspan. Their are rabbits and unicorns walking the streets then.
