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