Behold, The Powell Pivot Goes Circular!

Yup, stock markets were shocked and appalled by two dissenting votes, the lack of even a single vote for a 50-basis point cut, the total absence of indications of more cuts, and the sudden re-emergence of the suggestion, even as an aside, of a “couple of rate hikes.”  The Dow fell 333 points, the S&P 500 33 points, and the Nasdaq nearly 100 points – all down between 1.1% and 1.2%.

 

 

 

 

 

 

 

 

 

https://wolfstreet.com/2019/07/31/two-fed-governors-defy-wall-street-media-trump-eight-buckle-powell-tries-to-explain-confusingly-throws-couple-of-rate-hikes-into-mix-stocks-tank/

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