Market seems to be dovish on Powell speech. But will we see a market drop on the next day, similar to what happen during the last few time when Powell speaks? FOMO seems to be getting stronger and stronger, pushing the market up. Actually we are still far from a pivot from Fed and Powell had clearly stated more hikes and QT are planned. The macro environment (high inflation, slow down in economy, Ukraine war, high oil, etc) is still the same. Wondered what is actually pushing the market up.
Powell Says Inflation Is "Much Too High"，Another "Large Increase" May Be Appropriate in September
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