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Is the Powell Pivot for real or are markets reacting too early?

What was missed by the markets was that Powell was very clear that the balance has shifted towards inflation control and away from ensuring maximum employment and growth

August 03, 2022 / 11:25 AM IST
Is the Powell Pivot for real or are markets reacting too early?

Fed chair Jerome Powell

July proved a month of relief and recovery after a very challenging first half this year. As commodity prices eased off, stock markets staged one of the best monthly recoveries since the middle of the pandemic in 2020. The scorecard for the first seven months of 2022 read: US S&P 500 stocks down 16%, some stock indices in bear market territory, government bonds down 14%, US dollar up 11%, Crude Oil up 29%, Commodities index up 38%, gold down 6%...

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