Episode 115 Jay Powell Puts Out Pivot Talk Fire (and not with water)

Summary:U.S. equity markets rebounded this summer amidst speculation Jay Powell had signaled a “pivot” to a less hawkish monetary policy. On Friday, he quashed speculation interest rate policy would moderate anytime soon. But is the Fed really tightening?Links:Jay Powell’s Speech at Jackson Hole, WY Aug. 26, 2022 (transcript)Plans for Reducing the Size of the Federal Reserve's Balance Sheet (May 4, 2022)Recent Balance Sheet Trends (Federal Reserve Balance Sheet)Overnight Reverse Repurchase Agreements: Treasury Securities Sold by the Federal Reserve in the Temporary Open Market OperationsFree Gift from Tom:Download a free copy of Tom's new e-book, It’s the Fed, Stupid, at itsthefedstupid.com. It’s also available in paperback here.It’s priced at a pre-hyperinflation level so grab a few copies for friends if you can.It makes a great introduction to the government’s most economically damaging institution for liberals, conservatives, libertarians, socialists, and independents alike.Get even more great content by becoming a Tom Mullen Talks Freedom Supporter at tommullentalksfreedom.com/support. You can sign up there for either my Patreon or my Substack. Like the music on Tom Mullen Talks Freedom? You can hear more at tommullensings.com!