What Jerome Powell should say on inflation

August 25, 2023, Opinion: "On Friday, Federal Reserve Chair Jerome H. Powell will give his third Jackson Hole address since inflation emerged as a major macroeconomic issue. These addresses are significant because they frame the monetary policy debate for the coming year. In his 2021 keynote, Powell supported markets by emphasizing why he thought inflation was transitory and well controlled — positions the Fed would abandon in the face of overwhelming evidence a few months later. Last year, he surprised and depressed markets by signaling the Fed’s dominant concern with inflation and its determination to keep tightening even at risk of slowing economic activity — judgments that have withstood the test of time. " Read Via the Washington Post