The bubble-blowing admission has arrived.

Note: I accidentally republished this instead of updating it. The Move to the Street accidentally removed the link to Vimeo.

On Tuesday, Fed Chair Jerome Powell announced he was Ready to Cut Rates to "Effective Lower Bound" via "Conventional" Policy.

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The unconventional is now the new conventional. Powell stated it's "time to retire the term 'unconventional' when referring to tools that were used in the crisis."

"The next time policy rates hit the ELB—and there will be a next time—it will not be a surprise," said Powell.

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ELB stands for Effective Lower Bound. With that, Powell implied that interest rates will return to zero.

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Hello Jerome Powell, I ask again, instead of failed bubble-blowing tactics, how about some answers?

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