Published on: November 3rd, 2021 • Duration: 57 minutes
“The path of the economy continues to depend on the course of the virus,” according to the latest Fed meeting, which confirmed that the $15 billion per month taper will begin later this November with room for adjustment based on changes in the economic outlook. The Fed seems to be quite comfortable with the current rate of inflation—which they believe to be temporary and will average out to 2% inflation over time, which is helping set the bar for rate hikes. The Bank Of England surprised everyone by NOT raising rates; meanwhile, the US trade deficit hit an all time high. Peter Boockvar, CIO of Bleakley Advisory Group and editor of The Boock Report, asserts that there remains a disconnect between the reality that he sees and what he believes most Americans are experiencing—that inflation is not transitory. PCE inflation is well above 4%, and the Fed is sticking to their symmetry goals to the detriment of businesses and consumers. Did the Fed make the wrong move with this dovish taper announcement? Interviewed by Maggie Lake, who will be taking live questions from Real Vision Plus members.