"it's like steering an oil tanker", is what they say. What did Powell expect, by wanting "more evidence"? Now has to make a sharper turn with 50bps. Shld've cut sooner 25bp & control the narrative, so that mkt/businesses don't get ahead of themselves thinking inflation fight is over. Fed was late in leaving rates low for so long, now late the other way.
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Should cut 40 bps lol