This was pointed out to me the other day.
Fed chief Jerome Powell hardly ever makes comments on economic events outside of his regular official meetings.
Well, there will be a press conference Wednesday after the Fed meeting, and the central banker is expected to announce the eighth rates hike since 2015.
And the press conference is one of these rare occasions when Powell is expected to speak — just like he did at the Fed’s annual summit in Jackson Hole, Wyo., a month ago.
So far, Powell’s stay-quiet approach is refreshing. He doesn’t run his mouth off in the press in a desperate grab for attention, something that his predecessors — Alan Greenspan, Ben Bernanke and, to a lesser extent, Janet Yellen — seemed to do all too often.
And with each of the dozen presidents of the regional Fed banks also lending their two billion dollars’ worth into the conversations — it used to be two cents, but there’s been inflation since that saying started — it was often hard to figure out what the true policy of the Fed was.
Now, as Simon and Garfunkel might say, we have the sound of silence from Powell.
And that’s so nice.


