Bowman: The Outlook for Inflation and Monetary Policy

FED'S BOWMAN: ANOTHER 75 BPS RATE HIKE WILL BE APPROPRIATE IN JULY, AND HIKES OF AT LEAST 50 BPS AT NEXT FEW SUBSEQUENT MEETINGS.......Very good

poor US citizens , their solution is hike rates , hike rates , hike rates ..and nothong else , they just don't know what to do with the Shi.. they did with the economy after they print,print,print it was the solution ...

Responding to Faucon, Fed has no recourse as between Rino's and Dems there is no leadership in Washington whatsoever at the senior levels of Legislature.
Policy to move on energy resources, bringing manufacturing back to US, Food, reducing deficit spending all totally missing in action.

Powell's response today on what he viewed as implications for what is going on in Legislative branch took a hands off approach. Fed he said just deals within its' policy setting mechanism to whatever Legislative produces.

Since as of now it all falls upon Fed to control inflation, absent the before mentioned topics getting acted upon, interest rates are headed higher to contain inflation. That a inflationary recession is inevitable appears as only outcome as Fed can reduce demand via credit restraint but supply imbalances must be countered by Business production.
As US Trade imbalance showed a huge rise today in deficit side of ledger, fairly obvious domestic Business is not producing and everything is getting imported.