The Rebellious Teen.

ANGLES. · Feb 5, 2023 · 6m

The Federal Open Market Committee (FOMC, see EXPLAINER: FINANCIAL TERM OF THE WEEK) surprised absolutely no-one by raising interest rates on Wednesday by a quarter of a percent to a target range of 4.50% to 4.75%.

Fed Chair Jerome Powell dropped a few hawkish soundbites at his post-announcement press conference, all designed to be played out of context on CNBC, saying that monetary policy “does not yet look sufficiently restrictive” and that“ongoing increases in the target range will be appropriate”.

But he also said, “We can now say, I think for the first time, that the disinflationary…