Powell Q&A
- This isn't the start of a long series of rate cuts
- There is a range of views in the committee
- Long business cycles have sometimes involved the Fed cutting, then hiking again. I don't think that's particularly likely, but it's an example
- "A couple of rate hikes isn't going to matter that much if we're in a downturn"
- This was well-telegraphed
- Downside risks are really coming from abroad and we're concerned about inflation
That comment cut the market's losses. However I don't think it's really any different than what he was saying before. But it shows a market that's looking to buy dips.
