CNBC Gives Fed A Mulligan As John Williams Explains What Powell Actually Meant
A little less “plain English” and a little more of this.
A little less “plain English” and a little more of this.
Jerome Powell did not “feel the market.”
What $694 billion in AUM has to say…
“We believe that changing market liquidity has a role in explaining the
dislocation of volatility”…
“…and no, our view is not influenced by our Chicago Bears fanaticism.”
Thanks Jeff!
Right up until Wednesday at lunchtime, there was a lot of fear out there.
“Three factors have driven this shift.”
It can’t possibly be as bad as last week, right?
This isn’t all that complicated.ÂÂ
“…this time without financial media concern.”
“…or is this just déjàvu all over again?”
“Hand over your trade policy and I’ll release global markets”…
After a pivotal week, where to?
“The deficit is coming down and it’s coming down rapidly.”
Somehow, this will resolve itself.
“…there is a growing sense that positioning is not as stretched as the data would suggest.”
Around the world in 2,100 words.
“It’s a market condition.”
“We note that there has been no change to our view of Fed policy tightening, but”…
“…it would likely soon be appropriate to take another step in removing policy accommodation.
None of this makes any sense. Not a bit of it. It’s a self-referential nightmare.
Stop it, Larry. Please.
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