One of the candidates for the Fed chair, Mark Summerlin, published an article in the Wall Street Journal, which is summarized as follows:
Inflation is not a serious problem at the moment. Tariffs are equivalent to tax increases. Tax increases will reduce inflation because they will lower after-tax income.
If the Fed knew that the employment reports for May and June were so weak, they might cut interest rates by 25 basis points in June and July respectively.
The remarks are quite dovish, continuing to solidify expectations for interest rate cuts, but Mark's views are hard to agree with, as they
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