Fade the “fake” Fed pause

Thursday 2 June 2022

The robot whisperer Charlie McElligott at Nomura. Sounds right to me.

—

Fade the #fake news Bostic September “pause” meme—where despite likely being past “peak hawkish / peak inflation / peak rate vol,” that does not mean that all three cannot stay persistently higher (SEP projections update coming, ECB rate vol catalyst, Crude Oil, QT commencing, Chair Powell’s own words on “not a time for tremendously nuanced readings of inflation”), and why I think that 50s remain the weapon of choice to do it.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.