Keys to the ‘cursed words’ of the Fed’s new roadmap
The impact of Trump’s policies, particularly in trade, loomed over a news conference where Chairman Jerome Powell used terms that he had been avoiding in recent times
Two words vied to overshadow all other messages at a news conference where Federal Reserve Chairman Jerome Powell attempted to outline the central bank’s monetary policy roadmap following the agency’s meeting on Wednesday: “uncertainty” and “transitory.” The first applies to the economic situation. The second, to inflation. Both are cursed words, for different reasons. There is a third scary word (nightmarish, really) that was also heard at Fed headquarters, but only in a glancing way.
