> Most surprising part of this FOMC had to be when Powell said "we would like to slow demand" during the press conference, you don't usually hear the quiet part out loud like that from this Fed chair.
That's...not really a “quiet part”, it's the widely acknowledge, overt nature of managing inflation. That the Fed’s dual mandate involves employment and price stability, and that those are in tension because controlling inflation often involves mitigating demand, while promoting employment enhances demand is not viewed as a secret. It’s like Fed 101, and Fed board members (chair or not) very often do not walk on eggshells about it.
This is the first time labor has been making real gains compared to productivity in a long time. I don't think it's surprising that capital would prefer to layoff a few million plebs to remind the rabble where they stand.
That's...not really a “quiet part”, it's the widely acknowledge, overt nature of managing inflation. That the Fed’s dual mandate involves employment and price stability, and that those are in tension because controlling inflation often involves mitigating demand, while promoting employment enhances demand is not viewed as a secret. It’s like Fed 101, and Fed board members (chair or not) very often do not walk on eggshells about it.