Whipsawed

Goodgolddays
2023-03-23

What a whipsaw day!

The Fed raised interest rate by 25 basis points, as most have expected. Just 1 more interest rate hike this year. That said, Powell also shared that the fight against inflation isn’t over yet.

Market was a lil choppy at that point but was still doing alright.

But when Yellen spoke, the market ranked. She basically said that shareholders of the failed banks are not being protected by the government. She also added that US is not considering a “blanket insurance” for bank deposits.

Her comments rattled the market.

Check out my YouTube video if you have time:

FOMC Meeting - More Rate Hikes??

https://youtu.be/8T-Nz5uPOGk

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Comments

  • Bootrade
    2023-03-24
    Bootrade
    Its isnt yellen. It was powell during the Q&A he mention they are not looking at any rate cut this year which the market priced in earlier week rate cut in the later part of the year.
    • jazzyco: 
      does not helpful rare cut sitation fro market
    • wubbie: 
      so what indicators they depend upon
  • Ahleepapa
    2023-03-23
    Ahleepapa
    250k still insured lah. Nt adding more assurance only. they spooking all the NLP models🤡
  • Joker_Smile
    2023-03-23
    Joker_Smile
    expected but still disappointed
  • Yaahh
    2023-03-23
    Yaahh
    noted, thk u! [smile]
  • InvisibleP
    2023-03-26
    InvisibleP
    Ok
  • philly.p050321
    2023-03-26
    philly.p050321
    Ok
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