Heading into this year, nearly everyone – including me – called for a recession.
Federal Reserve Chairman Jerome Powell dreams of going down in the history books as the second coming of Paul Volcker, the former Fed chair who famously jacked interest rates higher in the late 1970s and early 1980s to tackle inflation. I expected him to push interest rates too high, causing the economy to hit the brakes.
However, as John Maynard Keynes famously said, “When the facts change, I change my mind.”
This post originally appeared on Wealthy Retirement.