Overdue reality check for Fed and markets has barely begun

Financial Times/Sonal Desai/5-22-2022

photgraph of the seal of the Federal Reserve system

“The US Federal Reserve and financial markets are experiencing a long overdue reality check on inflation and interest rates. But markets have barely begun to take into account how far the world has changed.”

USAGOLD note: A realistic appraisal of where we stand now from Franklin Templeton’s chief investment officer, Sonal Desai. To think that the Fed will ease policy again in the short term, she says, is a “severe degree of wishful thinking.” She then adds an important kicker. It is a mindset that “seems to inform the central bank’s own outlook.” Hhmmm…….

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