Weekend Reading: The Powell Put
The stock market wanted a Christmas gift and it got it from Chairman Powell this week.
On Wednesday the Fed chair took a more dovish tone than previous. He claimed rates now are just below neutral. This was the signal the market wanted.
President Trump was leading the attacks on the Fed claiming they were raising interest rates way too fast.
The truth is the economy might not be doing so well and the deleveraging from all the risk is posing a grave threat.
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Great post!
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