Disliked{quote} Wouldn't matter if he spoke during market hours anyways. Still would be a nothing burger for the plain fact that we've heard him "testify" with the same rhetoric for a month and know his position to a tee. When he says that we are at the "bottom end of normalization", he's talking about 3%. If you look at the FED funds rate over the past 3 or 4 decades you will see that 3% is the bare bones minimum. That's where he ultimately want's the rate but he knows that for now a hike isn't warranted. Holding for 3-6 months is the prudent thing to...Ignored
It may have been major move if Powell was speaking right after the major miss on job creation. He is probably the most powerful CB in the world. I say probably because some may believe Draghi is the top gun CB. Look at what EURUSD did yesterday after Mario spoke.
Never dive in head first into unknown waters.
Ecclesiastes 1:9
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