FED'S POWELL: FED WILL NOT CHANGE 2% INFLATION TARGET

POWELL NEEDS HIGHER UNEMPLOYMENT TO STOP VIA LOWER DOMESTIC SERVICES INFLATION

Initial comments:

Bottom line so far:

1. He will not raise the target

2. Things are looking better

3. We need NON-HOUSING SERVICES INFLATION TO DROP

   1. translation: we’re ok with higher unemployment

4. Core Goods is still way too high

5. We’re keepi…