Jay Powell Sets The Stage For Monetary Tightening
Juan Pedro Marín-Arrese | The hawkish and straightforward message Jerome Powell delivered yesterday surprised analysts and markets alike. They expected a non-committal press conference following a routine FOMC meeting. Instead, Powell unfolded the planned roadmap for monetary tightening. He even announced a rate hike in March, breaking the rule of refraining from providing precise tips on future action, coupled with a sharper than expected increase in federal funds rates. It…