Jay Powell Takes Literal “Same Sh!t, Different Day” Approach To Today’s Congressional Testimony

Yesterday, Fed Chair Jay Powell went up to Capitol Hill for a chat on the Fed’s economic outlook and talked about how negative rates are dumb, inflation doesn’t keep him up at night, and pretty much ignored any chance to take a shot at his bully: the actual president. Overall, it was an exceedingly boring and news-free appearance even by monetary policy standards, probably because everyone in the room was wishing they were in a room nearby where all the hot messy impeachment drama was going down.