Fed's Powell: It is appropriate to be moving more quickly and front-end loading

• 50 bps will be on the Powell for the May meeting
• I don't want to bless any market pricing but they are acting appropriately to our communications
• At the recent meeting, many on the committee thought one or more 50 bps hikes appropriate
• We need price stability to have a strong labor market
• It is essential to restore price stability
• In the US we have very strong growth and high inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term elsewhere has different levels of growth and a lower starting point
• We have had an expectation that inflation would peak around this time but these expectations have disappointed in the past
• Are we going back to the old economy? Probably not. What does the new one look like?
• There is a lot to like about the US labor market but it's not sustainably hot

The bond market cooled off despite some hawkish comments from Powell but that might represent some flight to safety as equities tumble.