/Heresy Financial:The Fed Just Admitted Prices are Permanently Higher

Heresy Financial:The Fed Just Admitted Prices are Permanently Higher

In this video, we cover the main highlights from the FOMC Press Conference that took place on July 28. There were a few surprises out of this meeting, one of which I’ve been predicting for a while. First, they are now officially setting up two standing repo facilities. Second, Powell defined “transitory” as referring to the rate of change, not the absolute price level.