Gordon Johnson: Fed has overseen 63 months of inflation over 2 percent target

Gordon Johnson: Fed has overseen 63 months of inflation over 2 percent target
Fed inflation record and credibility in focus

Gordon Johnson, CEO / Analyst at GLJ Research, draws attention to the fact that U.S. inflation has remained above the Federal Reserve's 2 percent target for 63 consecutive months.

Johnson criticizes the Federal Reserve's response, citing $175bps of rate cuts projected for 2024-25 and the resumption of quantitative easing at the end of last year. He also references a recent comment by Warsh emphasizing 'no tolerance for persistently elevated inflation', arguing that any credibility to make such claims was lost years ago.

Johnson has questioned Tesla's autonomous vehicle progress, noting just 31 active cars in the robotaxi fleet. He previously highlighted that no oil tankers crossed the strait over the weekend, while oil prices stayed steady as U.S. stock futures opened. Johnson's recent comments continue his ongoing scrutiny of economic and market developments.

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