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Up Next: Powell Interrogation, US CPI, Big Bank Earnings
Anyone who bothers to show up for work this week will hear from Jerome Powell.
On Tuesday and then again on Wednesday, America's top central banker will make his semi-annual pilgrimage to Capitol Hill, where he'll be interrogated by irritable partisan hacks.
This'll be the same mind-numbing song and dance it always is. Democrats and Republicans alike will pretend to be mad at Powell, albeit for different reasons.
Republicans, forgetting Powell's one of their own, will cast conspiratorial aspe
In other words, it’s about as meaningful as as .0002% surprise in some stat, but just as likely to be a probable cause of a jolt to a thin market?
It is damn silly, isn’t it? Seriously, what difference to the economy or corporate profits will a quarter point rate cut make??
Unless… it is something that will feed the maw of our friendly algos which matter so much more to stock prices than anything we parse and debate here.