Fed Won't Raise Rates Until Next Year, Hoenig Says

The video discusses Chair Powell's speech and the FOMC's commitment to a 2% inflation target. It highlights the US focus on domestic inflation despite China's economic slowdown. The challenges of the current policy cycle, including risks of policy mistakes, are examined. The video also covers market volatility, particularly in the treasury and bond markets, and the impact of inflation on economic strength. Finally, it addresses the divergence in global central policy making and its implications.

How does the current economic situation compare to the 1970s regarding inflation?

What factors are complicating the decision-making process for policymakers?

What implications might arise from the divergence in global central policy making?