Fed Chair Powell Silent As Bond Markets See Recession, Rate Cuts

Often, it’s what is not said that deserves essentially the most attention.  

Federal Reserve Chairman Jerome Powell’s decision to sidestep the problem of inflation and rate hikes during a central banking conference in Stockholm this week, as markets bet against his previous hawkish signals, may prove as pivotal as his late August speech in Jackson Hole when he snuffed out a summertime rally with gloomy projections and a vow to hold on tightening.

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