tyb
C101 US Coast Guard G5 ne from Key West Naval AS ground stop-inbound from Miami Int'l overnight and back to Reagan National Airport
SAM443 USAF G5 west from JBA
SAM516 USAF C-32A continues nw from JBA depart
Swiss AF SUI005 Falcon 900 sw from a Bangor, ME ground stop and refuel-inbound from Bern/Belp Int'l Airport earlier
>>100160 pb
SLUM71 USAFSOC C-32B ne from wherever it went on Sunday-Panama seems likely but also could be Columbia as well.
SLUM71 departed Warsaw Poland on 1009 and had a ground stop at Shannon, Ireland prior to arriving at Toronto Pearson Int'l Airport for an overnight and then departed sw on 1010 (Sunday) to it's destination in central or south america
Fed's Bostic Finally Admits It: Inflation Is Not Transitory, And It's Getting Worse
Atlanta Fed president Raphael Bostic finally broke away from the fake narrative bandwagon created by his Fed peers, the complicit media and Wall Street sycophants, when during a virtual speech at the Peterson Institute of International Economics, he said that price surges caused by supply-chain disruptions or the reopening of the services sector are likely to last, i.e., they are not transitory, and seem to be broadening to more parts of the economy, i.e., getting worse. Or precisely what we have been saying since May. "It is becoming increasingly clear that the feature of this episode that has animated price pressures — mainly the intense and widespread supply chain disruptions — will not be brief," Bostic said says in prepared remarks during the virtual presentation, which have assured he will not be on any lists for internal promotion once Powell decides to call it quits when "transitory" hyperifnlation can no longer be contained. "Data from multiple sources point to these lasting longer than most initially thought. By this definition, then, the forces are not transitory."
Powell has stubbornly maintained the rise in inflation is "transitory" with projections from the Fed's rate-setting meeting predicted an annual inflation rate of 4.2% by year's end, an increase from 3.4% in June before cooling to 2.2% next year, in line with their goal range. But Bostic, a voting member of the Fed's rate-setting committee next year, disagreed with that sentiment: He said that inflation risks are not starting to diminish and noted that evidence is mounting that price pressures have "broadened beyond the handful of items most directly connected to supply chain issues or the reopening of the services sector." “Longer-run inflation expectations measures have climbed, with many reaching levels we haven’t seen in about a decade. These upside risks to the inflation outlook bear watching closely” he said, perhaps eyeing the latest staggering consumer inflation expectations released by the NY Fed earlier today-cap#2.
"The real danger is that the longer the supply bottlenecks and attendant price pressures last, the more likely they will shape the expectations of consumers and businesspeople, shifting their views on pricing and wages in particular," he said. Still, Bostic said he believes that many of the upward pricing trends caused by the pandemic will "unwind by themselves," though he cautioned that supply chain disruptions could last longer than expected. “If highly accommodative monetary policy is meant to correct past inflation shortfalls, then we have accomplished that mission. Up to now, indicators do not suggest that long-run inflation expectations are dangerously untethered. But the episodic pressures could grind on long enough to unanchor expectations.”
In a separate interview with The Financial Times, Bostic said that Fed's taper timeline should not shift, despite the worse-than-expected September jobs report: "I’d be comfortable starting in November," he said in the interview. "I think that the progress has been made, and the sooner we get moving on that the better." And while we wait for the Fed to engage in immediate damage control and define the word "transitory" to include "everything up to and beyond one lifetime", we also look forward to Bostic's stock trading records being leaked in the coming days as his shocking honesty could finally crush what little credibility the Fed has left.
https://www.zerohedge.com/markets/feds-bostic-finally-admits-it-inflation-not-transitory-and-its-getting-worse
German AF GAF917 A340 on ground at Dulles from Berlin-Brandenburg Airport departure
SLUM71 USAFSOC C-32B went to McGuire AFB (home base) >>100668
>>100632 pb
SAM516 USAF C-32A on final (on ground nao) at Seattle Boeing Field
Swiss AF SUI005 Falcon 900 on ground at Dulles Int'l from Bangor, ME ground stop
Landed about 90 minutes ago
SAM443 USAF G5 east from a Peterson AFB ground stop
SPAR80 USAF G5 ws from Bragg ground stop and heading to San Antonio
SPICE98 USAF E-4B Nightwatch es from Lincoln Muni ground stop-started off the day at Robins AFB, GA
Fed announces Quarles to step away from internal regulatory lead role as vice-chair term expires
The Federal Reserve said on Tuesday that Vice Chair for Supervision Randal Quarles would no longer lead the internal committee overseeing bank rules and supervision, as his term as the central bank’s top regulatory official expires on Wednesday.
Instead, that panel will meet as needed on an unchaired basis, and any regulatory projects will only advance if there is “broad consensus” among Fed officials, according to a Fed spokesperson. The announcement provides some clarity on how the Fed will handle regulatory matters going forward, as Quarles’ term as the central bank’s top regulatory official ends. Quarles for now remains at the Fed as a governor. It also suggests that Quarles, who was appointed to the Fed by Republican former President Donald Trump, will not pursue any ambitious deregulatory agenda now that he is officially no longer the Fed official in charge of that portfolio. The Fed’s internal committee in charge of regulatory matters was run by Quarles, and included Fed Governors Lael Brainard, a Democrat, and Michelle Bowman, a Republican. Under the new arrangement, any rulewriting or other major policy changes pursued by the group would have to be broadly agreeable, notably including Brainard, who dissented from several of Quarles’ efforts to ease rules on the banking sector.
Joe Biden has yet to nominate someone to replace Quarles in that role.
https://www.reuters.com/article/usa-fed-quarles/update-1-fed-announces-quarles-to-step-away-from-internal-regulatory-lead-role-as-vice-chair-term-expires-idUSL1N2R82EL
He was sworn in as Vice Chair for Supervision on October 13, 2017. His term as Vice Chair for Supervision ends on October 13, 2021.
https://www.federalreserve.gov/aboutthefed/bios/board/quarles.htm
SAM519 USAF G5 west from JBA at 40k ft