Federal Reserve Chair Jerome Powell and other officials at the organization have shown how they can frame their policies and actions in a way that doesn't actually promise anything in particular.
Powell's lunch-time speech at the Economic Club of New York on Thursday, October 19, 2023, was another example of the power of inscrutability. Some, like the Wall Street Journal, took the text as a signal of an "extended pause in interest rate rises."
"Recent economic figures show "ongoing progress" toward goals, U.S. central bank chair says," wrote the Journal.
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