Powell the Pivoter Cannot Now Pivot Back to a Dove

Powell the Pivoter Cannot Now Pivot Back to a Dove
Federal Reserve Chairman Jerome Powell testifies during a House Financial Services Committee hearing on Capitol Hill in Washington on Sept. 30, 2021. Sarah Silbiger/Pool/AP
Michael Pento
Updated:
Commentary 

The current Fed Chair Jerome Powell is perhaps best known for his quick pivots from hawkish back to dovish and vice versa. Maybe he is just too dependent on the prevailing winds of the current economic data. Or, perhaps more accurately, he is most swayed by the performance of the stock market. In either case, Powell received more reasons to become hawkish just one day following his already hawkish FOMC press conference.

Michael Pento
Michael Pento
Author
Michael Pento is the President and Founder of Pento Portfolio Strategies. He produces the weekly podcast called “The Mid-week Reality Check.” He's also the author of the book “The Coming Bond Market Collapse.”
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