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February 28th, 2023 
Awake Goy Commentary
Recession indicators are becoming more insistent.
Yet, the Federal Reserve remains focused on its inflation fight. As noted in “No Landing Scenario,” the Fed maintains a “hawkish” bias despite the markets not listening. As such:
• “I wouldn’t rule out supporting a 50 basis-point March hike,” said James Bullard, president of the Federal Reserve Bank of St. Louis.
• “The Fed risks a replay of the 1970s if it can’t lower inflation soon,” said Bullard.
• “At this point, I see the policy rate in the range of 5.25 percent to 5.5 percent as appropriate,” said Bullard.
• “The return to price stability will be painful,” said Bullard.
• “It’s not always going to be, you know, 25 [basis points],” said Loretta Mester, president of the Federal Reserve Bank of Cleveland.
• “As we showed, when the economy calls for it, we can move faster. And we can do bigger increases at any particular meeting,” said Mester…. Source
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