Later today I’ll have to try to unpack what Powell said to the Senate committee, published as headlines soon after the DOW opened for trading … overall the market clearly saw upside in what he said … I think it might have been the comment that the US economy was strong enough to handle some more big monthly rate rises … the inference being, without falling into recession … many taking heads think the Fed is in denial regarding likelihood of a recession, like they were in denial that rising interest rates were transitory!
Well done to our moderates last night … the sensible center … standing well clear of the hard lefts and hard rights.
