Goldman: The Odds Of A Rate Cut Were Already Low, Now They’re Lower

Markets appear to have calmed down a bit after Wednesday's afternoon whipsaw, which came courtesy of a rather odd pairing between a dovish Fed statement and a subsequent press conference that found Jerome Powell emphasizing (and reemphasizing) the notion that pressures on inflation may well prove "transitory". To be clear (i.e., in response to a couple of reader e-mails), it's not that it's bad for Powell to play down the prospect of rate cuts. In fact, that's probably healthy considering that