/biz/ - Business & Finance

>>49697516
He's being put in a really bad spot Biden is laying the entire responsibility of fixing inflation at his feet, and Powell knows that while he can tame inflation with rates and offloading the balance sheet its going to be disastrous and not fix the underlying issues causing most of the inflation anyway.
He's panicking because he's already been forced to hop 25bps faster than expected, and now the other 50bps hikes he was expecting to implement are looking like they will be 75 or even 100 at this point, and he knows hiking that high and that fast will cause lots of economic hardship - many people are going to have their retirements wiped out, while others will face mass lay offs. Its a damned if you do, damned if you don't situation.