Jerome Powell and His Hour of Glory
Briefly:
Inflation is too high and we will work to get it back to 2%.
The banking system is more stable than ever.
The national debt ceiling problem hasn't been solved yet
Maybe the rate doesn't need to be raised as high as previously planned because it would hit banks and markets.
Perhaps a further reduction in demand will not come from a rate hike, but from changes in the labor market (rising unemployment).
Bottom line: shaved both ways, but the likelihood of another Fed rate hike has dropped from 45% to 15%
@Bitcoin_Insights
