Goldman’s no.2 takes rare swing at Fed’s autonomy and resolve

Bloomberg/Sridhar Natarajan and Max Reyes/1-27-2022

graphci image of a sheep posing as a lion before a computer screen

“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.

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