CNBC” Fed chairs are tough on policy in their final year, and Powell is no different, DataTrek’s Colas says”
By datatrekresearch in IN THE NEWS
Excerpt from CNBC quoting DataTrek's Nick Colas:
.... Federal Reserve Chair Jerome Powell seems unlikely to announce a rate cut plan on Wednesday following the central bank’s policy meeting. That puts him on a similar path as his predecessors, according to Nicholas Colas, co-founder of DataTrek Research.
Powell’s term as the Fed’s leader is set to expire in May, leaving him with just eight more Federal Open Market Committee meetings in the top position, including this week’s. Previous Fed chairs tended to be more conservative with regard to rate cuts in their final year, Colas said in a note to clients.
“The last 3 Fed Chairs” — Alan Greenspan, Ben Bernanke and Janet Yellen — “all ended their terms on a hawkish note,” Colas wrote. “Powell is continuing that trend, focused on exiting the job with his inflation-fighting credibility and political independence intact"....
Full article here on CNBC.
