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Powell Not Extra Hawkish

Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

  • The chart shows when Powell spoke.
  • In the Morning Capsule, we shared with you:

The Fed is playing whac-a-mole with the momo crowd.

  • The chart shows that the mole has popped back up again.
  • Powell said, “…restoring price stability when inflation is high can require measures that are not popular in the short term as we raise interest rates to slow the economy.”