12/18/2023

Everyone Expected a Recession

The Fed and White House found a way to avoid one

After two years of relentless pressure over everything from sky-high inflation to a looming recession, the head of the Federal Reserve was asked this month what he does for fun.

"For me, a big, big party — and I mean, this is really as fun as it gets — is a really good inflation report," Jerome Powell said before a crowd at Spelman College. He flashed a smile and laughed.

For an official who typically sticks to a tight script, the quip was downright jubilant. But it also reflected a subtle mood shift from the central bank — and from a leader who feels finally freed to crack a joke in the first place, however restrained.

Please select this link to read the complete article from The Washington Post.