Out of yesterday’s entire Jerome Powell press conference, there was a single sentence which not only undid all the damage but also has been grating at me ever since. It is this: ” And we’re going to be assessing the question of when it will appropriate to resume the organic growth of our balance sheet.”
Just look at those words. Organic. Growth. Balance. It all sounds so natural and innocent, doesn’t it? Almost like something you’d be picking up at Whole Foods this evening, just between the coconut oil and white sesame seeds. The entire proposition feels wholesome and healthy.
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