Watch: Will Fed Chair Powell Call The Market’s ‘Dovish’ Bluff?
For the last six weeks, since the prior FOMC meeting, the market has ignored every Fed Speaker’s hawkish jawboning against the market’s “unwarranted easing” of financial conditions in the face of The Fed’s “higher for longer” narrative.
After the expected 25bps hike and a mixed basket from the statement, the market, simply put, expects a ‘hawkish’ Powell in rhetoric but believe he and his pals are ‘all bark, and no bite’.
So, is it possible that Powell can deliver a Jackson Hole 2.0-esque conference call that the market will believe… or have animal spirits taken over?
Watch live here (press conference due to start at 1430ET):
Wed, 02/01/2023 – 14:25