Jerome Powell ‎Chair of the Federal Reserve is EF Hutton (dating myself on that reference). When Powell speaks everyone listens.

Acknowledge GDP better than expected.

Growth has slowed from Q3.

Better balance of employment and inflation goals

Less likely Confidence by March 20th to cut rates.

Mum on the balance sheet ie buying Securities/bonds and stop selling them.

Unemployment rate 4.2%, benefits for the first time rose 9,000 to 224,000. This is Holiday adjusted. Continuing Claims rose 70,000 to 1.898M. A big rise and a sign that once you are laid off, its harder to find another job.

I don’t see exactly what the Feds are waiting for. We see what is happening with Rents dropping, the Used car industry on the ropes, Layoffs and more. My suggestion is for Powell to quit looking through the rear view mirror and drive the car.