2024-07-28 01:09:58 +0300
Fed Watchers Say Markets Got It All Wrong on Powell ‘Pivot’
Bloomberg
By Steve MatthewsFederal Reserve Chair Jerome Powell is raising interest rates at the steepest pace in a generation and he said Wednesday that another big increase is possible. Yet investors sent stocks surging on his comments that the hikes will eventually slow.
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Some Fed watchers say markets read Powell’s press conference too narrowly.
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