Hakimian: Fed Faces ‘Crisis of Credibility’ as Both Sides of Dual Mandate ‘Move Away From Them’

Spencer Hakimian says the Fed statement was more dovish than expected, but the press conference was more hawkish, creating a market whipsaw. “Both sides of their dual mandate…are moving away from them.” Spencer looks at inflation and labor markets and discusses the “crisis of credibility” for the Fed. He looks ahead to the jobs report tomorrow as the “next big event.”

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