Hawks vs. Bulls: The Fed Clashes With Optimistic Investors
The Breakdown
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Fed's Wall Street Clash Set Stage for Powell's Hawkish Message
Since October, financial conditions have been loosening at a rapid pace to the point where conditions are now looser than when the Federal Reserve began hiking interest rates in March. The last time Financial Conditions got loose like this, Powell scrapped his planned speech at the Jackson Hole Conference in August and came instead with a curt eight-minute speech basically telling markets to stop getting ahead of themselves. This isn't what the Fed wants to see from Wall Street; it's likely wishful thinking as far as Powell is concerned.
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