This video is brought to you by life insurance because i'm pissed and you can get life insurance by going to metcalf.com life. Okay, we just cannot get a break when it comes to the federal reserve. Look last week, everybody's been worried for months about last week's march 16th fed meeting. We were supposed to have the fed meeting get a summary of economic projections.

The meeting came, it went, everybody was chill with it. We got our 25 basis, point hike. We had liftoff and the market took off. Everything was fine.

Yet what ended up happening this okay? We ended up getting a whole schedule of bullcrap conversations by bostic powell, daley master, bullock, kishkari evans and barkin all to discuss the fed raising rates, and then today we get this long letter from j-pal this long letter that comes out and it's his speech on restoring Price stability, which has now motivated companies like goldman sachs, to expect the federal reserve to raise interest rates by 50 basis points at both the may and june policy meetings. This is literally the complete opposite of what jpow told us on march 16th, like i'm beginning to lose my mind, because on march 16th, jay powell went real deep on the idea that look inflation's gon na peak three to four months later. We're gon na monitor the data we're going to watch the data, we're going to steadily raise rates and after we monitor the data and steadily raise rates, the first three or four times or whatever until we get to september, which is when we expect to be past. Our peak or we can look and go.

Okay, is inflation coming down or do we need to go with a 50 basis, point height after telling all of this to our face last wednesday, all of a sudden today they decide they need to come out and change their verbiage from steadily to now. Expeditiously. Take a look at this quote: there is an obvious need to move expeditiously, to return to the stance of monetary or to return the stance of monetary policy to a more neutral level and again he ends his speech with. However, the risk is rising that an extended period of in of high inflation could push long-term expectations.

Remember he's always worried about those inflation expectations uncomfortably higher, which underscores the need for the committee to move expeditiously, as i have described now. Fortunately, his description is basically just hiking every single meeting, which is what he said last time, but why did they change their verbiage from steadily to expeditiously? If you're, basically, just saying hey, hey, hey we're going to do the same thing. We said in the last meeting, we'll raise rates 25 basis points per meeting until we get to 1.9 as the midpoint towards the end of the year. Well, unfortunately, they had to throw this note in here.

We will take the necessary steps to ensure a return to price stability in particularly in particular, if we conclude they have not yet. But if we conclude that it is appropriate to more aggressively or move more aggressively by raising the federal funds rate by more than 25 basis points at a meeting or meetings, we will do so. Okay, all right! So wait a minute. You did say that during the meeting on march 16th, the big change is now you're, saying, expeditiously and because you're saying expeditiously and you're laying the seeds here that that 50 basis point hike is coming.

You're now freaking out the folks over at goldman sachs, who now say quote our best guess, is that the shift in wording from steadily in january to expeditiously today as a signal that a 50 basis point hike, is coming the russian invasion of ukraine and the possibility That financial conditions could tighten more aggressively in response to a faster pace of fed tightening. Both present downside risks to our new forecasts. Okay, great so wait a minute. The war in ukraine supposed to be a quote game.

Changer, j pal. You gave us your plan 25 basis, point hikes. Why? All of a sudden are you coming out with this u-turn now suggesting well we're going to move expeditiously and remember, we might have to go 50.. What happened to war being a game changer? What happened to just steadily raising the rate, 0.25 basis points and waiting for that new now delayed inflation peak? What happened to that? Why are you freaking out the market? Now we were literally going from what could have been a quiet period in the market of no fed until may the beginning of may the first week of may, we could have literally had six weeks of quiet we're now going from six weeks of quiet to this Stupid schedule we're all going off yapping this week, like crazy to screw with the market, should just give it a freaking breather.

It's been five months of red. Okay, we've had enough it's time to chill out dang it powell you're keeping me awake.