Powell’s dovish hints water down Fed’s stance
J.P. Marín-Arrese | The Fed message was tough enough warning the hiking cycle will go on unabated until inflation is fully under control, even if its speed was poised to slow down. The markets expected the quarter percent rise in the Federal funds would prompt Powell to offset such a slowdown by a hawkish performance. Yet, in the press conference he provided dovish hints propelling the stocks to bounce back…