Why the Fed Will Hike Sooner Than You Think

Expectations, expectations, expectations

So, Powell’s back in the cockpit. Pity that a man always gets to take credit for a woman’s accomplishments. It was, after all, Lael Brainard who led the intellectual revolution at the Fed, ushering in the New Empiricism. To cut a long story short, the Fed technocrats are just as alarmed by the breakdown of elite-mass relations as anyone else in the prof…