{"id":417162,"date":"2022-03-17T00:03:00","date_gmt":"2022-03-16T21:03:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/the-fed-feds-powell-sees-the-light-and-turns-far-more-hawkish-than-expected\/"},"modified":"2022-03-17T00:03:00","modified_gmt":"2022-03-16T21:03:00","slug":"the-fed-feds-powell-sees-the-light-and-turns-far-more-hawkish-than-expected","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/the-fed-feds-powell-sees-the-light-and-turns-far-more-hawkish-than-expected\/","title":{"rendered":"#The Fed: Fed\u2019s Powell sees the light \u2014 and turns far more hawkish than expected"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41447600ac1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41447600ac1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/the-fed-feds-powell-sees-the-light-and-turns-far-more-hawkish-than-expected\/#%E2%80%9CThe_Fed_Feds_Powell_sees_the_light_%E2%80%94_and_turns_far_more_hawkish_than_expected%E2%80%9D\" >&#8220;The Fed: Fed\u2019s Powell sees the light \u2014 and turns far more hawkish than expected&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/the-fed-feds-powell-sees-the-light-and-turns-far-more-hawkish-than-expected\/#Economists_worry_about_recession_after_%E2%80%98dot_plot_calls_for_6_more_rate_hikes\" >Economists worry about recession after \u2018dot plot\u2019 calls for 6 more rate hikes<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/the-fed-feds-powell-sees-the-light-and-turns-far-more-hawkish-than-expected\/#Greg_Robb\" >Greg Robb<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CThe_Fed_Feds_Powell_sees_the_light_%E2%80%94_and_turns_far_more_hawkish_than_expected%E2%80%9D\"><\/span>&#8220;The Fed: Fed\u2019s Powell sees the light \u2014 and turns far more hawkish than expected&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Economists_worry_about_recession_after_%E2%80%98dot_plot_calls_for_6_more_rate_hikes\"><\/span>\n  Economists worry about recession after \u2018dot plot\u2019 calls for 6 more rate hikes<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000704159\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000704159\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       After remaining stubbornly dovish last year, Federal Reserve Chairman Jerome Powell on Wednesday jumped the central bank squarely into the hawkish camp at his press conference on Wednesday.<\/p>\n<p> \u201cThe March FOMC meeting will go down in history as the one in which the committee saw the light,\u201d said Stephen Stanley, chief economist at Amherst Pierpont, a dogged critic last year of the Fed\u2019s easy policy stance.<\/p>\n<p><strong>Read: <\/strong>Fed raises rates and plots <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of rate hikes<\/p>\n<div class=\"paywall\">\n       \u201cThis is a group that has got some urgency. They may view this as their challenge to sustain the legacy of the central bankers that tamed inflation,\u201d said Carl Tannenbaum, chief economist at Northern Trust, in an interview.<\/p>\n<p>For the first time in memory, the Fed has indicated they are prepared to raise rates above the neutral rate of interest.<\/p>\n<p>If the Fed pushes its policy rate to 3%, \u201cI\u2019m not sure the economy is going to be able to well,\u201d said Tannenbaum.<\/p>\n<p>The \u201cdot-plot\u201d was far more hawkish than expected. It calls for a total of six more rate hikes following today\u2019s 25-basis-point move. The Fed projects rates going to 2.8% in 2023 and staying at that level in 2024.<\/p>\n<p>\u201cThis is a huge shift in the monetary policy outlook since December,\u201d when the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>n FOMC view was for only three quarter-point rate hikes in 2022 and three more in 2023, said Scott Anderson, chief economist at Bank of the West.<\/p>\n<p><strong>Read: <\/strong>The Fed got inflation badly wrong and now admits there is no quick fix<\/p>\n<p>The very hawkish lean of the Fed raised immediate concerns about a recession.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Powell on several occasions  waved that concern away.<\/p>\n<p>\u201cThe American economy is very strong and well-positioned to handle tighter monetary policy,\u201d he said at one point. <\/p>\n<p>But economists were decidedly concerned.<\/p>\n<p>Fed members think they can do the heavy lifting to rein in inflation without triggering a recession, said Diane Swonk, chief economist at Grant Thornton.<\/p>\n<p>\u201cThere is no history of doing that with the kind of inflation we are currently seeing,\u201d she said. <\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Greg Robb\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/greg-robb\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/grobb2000\",\"text\":\"@grobb2000\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:grobb@marketwatch.com\",\"text\":\"grobb@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Greg_Robb\"><\/span>Greg Robb<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-7ABE-9FAA841F3492%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;The Fed: Fed\u2019s Powell sees the light \u2014 and turns far more hawkish than expected&#8221; Economists worry about recession after \u2018dot plot\u2019 calls for 6 more rate hikes After remaining stubbornly dovish last year, Federal Reserve Chairman Jerome Powell on Wednesday jumped the central bank squarely into the hawkish camp at his press conference on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":417163,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-506335\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-417162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/417162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=417162"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/417162\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/417163"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=417162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=417162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=417162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}