UBS On-Air: Paul Donovan Daily Audio 'What do you think you are doing?'

In the US today, a non-economist will attempt to explain to a collection of non-economists the extraordinary complexity of an economy undergoing dramatic structural change. The questioning will be mainly partisan point scoring. The question Fed Chair Powell needs to be asked is “what do you think you are doing?”. Powell has yet to explain how raising rates will tackle profit-led inflation. Pursuing higher unemployment seems an ineffective response.