'SUFFICIENTLY RESTRICTIVE'

The 'tourist explains how Powell sees the current Fed policy stance

With the meme stocks going crazy again, you’ve probably heard some form of “the Fed needs to tighten immediately!” screech. And I get it. It definitely seems like financial conditions are loose. If the Federal Reserve was in charge of keeping financial asset inflation contained, then an interest rate rise would be in order.

However, that’s not the Federa…