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Powell Pumps Bitcoin, Bonds, & Big-Tech; Crashes US Dollar
While The Fed gushed over just how dovish it was today, willing to do absolutely nothing despite forecasting significant economic growth, inflation, and employment gains (with median rate expectations remaining at lows), there was a hawkish tilt across members who see multiple rate hikes in 2022 and 2023... chart But hopeful comments about SLR helped remove some overhangs, sending stocks and bonds soaring as the dollar dumped. Treasuries erased the day's early weakness... chart ED Futs retraced a little of their hawkish tilt in 2022 (but not much)... chart But the dollar gave the loudest signal of what the ... (full story)