Powell’s certain uncertainties

The chair of the Federal Reserve told the American public that much of the U.S. economy remains on solid footing, but uncertainty – and a lot of it – has clouded the central bank’s ability to forecast.

Chair Jay Powell hammered the word “uncertainty” into the skulls of the Fed press corps this afternoon. At one point, Powell said the current moment’s economic uncertainty was “remarkably high.” That has everything to do with the Trump administration’s first few weeks back in Washington.