Powell Got Spooked
His speech was enough to stop the post-FOMC market move in its tracks
Highlights
• Powell tries to walk back the easing in financial conditions, “closing the door” on the recent rally
• Market breadth remains uninspiring and divergences abound in the economic data
• Need some FIBER in your diet? The leading indicator is hooking lower again
• Inflation meltdown continues, nothing sticky here according to the San Francisco Fed
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