Bloomberg/Sridhar Natarajan and Max Reyes/1-27-2022
“Goldman Sachs Group Inc. president John Waldron said the independence of the Fed has been damaged in recent years and that it’s lost credibility in markets, as he offered a blunt assessment to pension fund managers.”
USAGOLD note: It seems that the Biden-Yellen-Powell game plan is to present a public persona of being tough on inflation while keeping monetary policy very loose – emphasizing jawboning over policy substance. Market players have to assess whether or not they should play again to get along or take precautions against the whole rhetorical infrastructure suddenly collapsing.
