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...US equities rose after Federal Reserve chair Jay Powell spoke for the first time since January’s blockbuster employment data sent a chill through markets....
...Days later, Fed chair Jay Powell warned rates might have to be raised higher than investors expected because the strong labour market meant it could take longer for inflation to return to the central bank...
...This gap between the Fed and the market was especially evident after a speech by chair Jay Powell last week in which he signalled that although the US central bank would slow its pace of rate increases at...
...“The Federal Reserve is just flooding the market with liquidity,” said Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott. “That is their policy over year-end....
...Support for stocks stemming from Fed chair Jay Powell’s more restrained tone on further interest rate increases has also dissipated....
...“The markets are telling us that there is a pretty high risk of economic slowdown or recession at the end of 2019,” said Guy LeBas, chief fixed-income strategist at Janney Capital Management....
...“I am sure somewhere Jay Powell is rolling his eyes or banging his head against the wall....
...“This, at its core, is questioning what was an unquestionable tenet of the financial markets,” said Guy LeBas, chief fixed-income strategist at New York broker-dealer Janney Montgomery Scott....
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