Fed managed to complete the cycle of a preventative rate cut without perturbations
Until you learn to row properly, there’s no point in changing the boat. Jerome Powell had no choice but to come to an agreement with financial markets. His previous experience left much to be desired: S&P 500 went to correction levels twice after Powell’s statements at the end of the previous year and in the middle of this year. October showed that Powell had learnt to row, finally. He reported a pause in the federal funds rate’s change so delicately that the investors liked it. Otherwise the…
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