FAST FIVE: Watch Live: Fed Chair Powell Explains How He Won't Meddle In The Election
Watch Live: Fed Chair Powell Explains How He Won't Meddle In The Election Tyler Durden Wed, 09/16/2020 – 14:25 Today is the last FOMC meeting until after the election.
begging the question of just how 'dovish' will Fed Chair Powell be – to keep the stock market dream alive (and potentially President Trump's re-election hopes).
Central bank officials face a choice: enable the Trump administration to continue down a disastrous path of trade war escalation, or send a clear signal that if the administration does so, the president, not the Fed, will bear the risks – including the risk of losing the next election.
And the punchline: “There's even an argument that the election itself falls within the Fed's purview.” So far Powell hasn't followed Bill Dudley's virtue-signaling proposals.
Bloomberg Senior US Economist Yelena Shulyatyeva says the post-FOMC meeting press conference will provide a good opportunity for Fed Chair Powell to clarify how the central bank plans to implement its new average-inflation targeting framework.