And now, to get my word count, here's a random copy/paste from a tab I have open
In case anyone wants to watch with me, you can do so. Come join me while we watch low level boxing action! And the finals of the Last Chance Saloon tournament.
The aggressive campaign of interest rate hikes that the Federal Reserve launched back in March has had a big impact on the U.S. economy. The S&P 500 has fallen almost 20 percent since its January peak, and a growing number of economists fear that the country is headed for a recession.
These rate hikes are meant to bring down inflation, which is still near 40-year highs. But the Fed is also trying to influence the public’s expectations for future inflation. Fed Chairman Jerome Powell laid out his reasoning in a gloomy Aug. 26th at the Jackson Hole Economic Symposium.
"We are taking forceful and rapid steps to moderate demand so that it comes into better alignment with supply, and to keep inflation expectations anchored," Powell said.
That last bit about keeping inflation expectations anchored is critical for understanding the forcefulness of the Fed’s response. Several economists told me that if people start to expect inflation to remain high, they could change their behavior in ways that make that expectation a self-fulfilling prophecy.