That was the big takeaway from his testimony yesterday. What does that mean? No sign of interest rates rising any time soon. The party is going to go on for much longer if he doesn't even see inflation, let alone smell it.
Personally, inflation is everywhere in my opinion and it is getting to a point where the money is becoming meaningless. Almost as if they are merely digits on a screen.
You look at house prices, the price of groceries, the incoming salary, everything has seen huge rises. So if Powell can't see inflation yet, where is he looking? Here is the writeup if you're interested to read more:
Yes, technology brings about disinflation. But printing money and hoping that prices rise while screwing savers isn't the way to bring about anything meaningful. Anyway, here's my takeaway:
