Macrocast: Chairman Powell's "Grim Determination to Carry On"
On today’s Macrocast, HPS’ Matt McDonald, John Fagan of Markets Policy Partners, and John Dick of Civic Science recap Fed Chair Jerome Powell’s Jackson Hole speech. The group examines Chair Powell’s speech from different angles, arguing that a 9 minute speech shows not only that the Fed didn’t want to share any new information, but also signals a “grim determination to carry on” with recent policy decisions. Consumer economic sentiment was also a focus of the conversation, as John Dick provided highlights from Civic Science’s latest data, discussing the changes to consumer sentiment over the past several weeks. John, John, and Matt also cover the Administration’s recent student loan relief plan and the potential economic impacts of this historic move.