In another sign of a new era at the Fed, Covid has stepped in the long grass. For nearly two years, Powell has said the course of the economy has depended on the virus, language that is often placed very high in the Fed’s communications, both oral and written. Not anymore. For Washington, the pandemic is yesterday’s story. Not so for China, where major urban centers have closed and businesses from Shanghai to Shenzhen are disrupting.
This post The Fed and China Are Going to War Against Various Enemies was original published at “https://www.bloombergquint.com/gadfly/the-fed-and-china-go-to-war-against-different-foes-inflation-and-recession”