The Fed Addressing Inflation Fears

The acting Federal Reserve Chairman, Jerome Powell, will address the public regarding fiscal policy and economic forecasts following today’s FOMC meeting –Tensions are unusually high due to rising concern about inflation. The May CPI report marked the largest YoY increase in prices since 2008, and Consumer Mentions expressing fear and uncertainty about inflation are at an all-time high as a result, up +99% on a 90-day moving average.

Today’s address could negatively impact the market, but it would require a surprise changeup in the prevailing outlook of the U.S. central bank. Expect to hear talk about (future) tapering and the “transitory” nature of the recent inflation numbers.