- The Fed is hiking for the first time in three years, shifting away from the aggressive inflation-fighting posture that defined the 2022-23 cycle.
- Fed Chair Kevin Warsh is selling the rate hike as good news, presenting it as evidence of a strengthening US economy.
- The dominant narrative of the prior tightening cycle was containing the biggest inflation surge in decades, while the current message emphasizes economic growth.
Quotes
“For the first time in three years, the Federal Reserve is hiking again.”
“this time around the US central bank head has thrown in a feel-good message”