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TRENDMACRO REPORT

Next Stop on the Jay Powell Apology Tour

BY Donald Luskin | Monday, January 28, 2019
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A report published last Friday, Jan. 25,  by The Wall Street Journal’s Fed watcher Nick Timiraos announced, pretty much as fact,  that this Wednesday’s (1/30/19) meeting will see the FOMC “deciding they will maintain a larger portfolio of Treasury securities than they’d expected when they began shrinking those holdings two years ago.” We think this story was a deliberate move in Chair Jerome Powell’s efforts to rehabilitate himself and save his chairmancy after his humiliating performance at the December FOMC meeting. 

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