Powell “Pivots”, Sends Dow To Record High With Election-Year Rate-Cut Projection

The Powell pivot begins.

Dec 1: “It would be premature to … speculate on when policy might ease.”

Dec 13: Rate cuts are something that “begins to come into view” and “clearly is a topic of discussion.”

What a difference two weeks can make. https://t.co/Vox8LKSgf0

— Nick Timiraos (@NickTimiraos) December 13, 2023

• Powell “Pivots”, Sends Dow To Record High With Election-Year Rate-Cut Projection
  by Tyler Durden, https://www.zerohedge.com/
  Did Powell get a ‘Biden-esque’ tap on the shoulder?
  The Dow hit a new record high after The Fed signaled – via its ‘dot plot’ – that it has pivoted from a pause, dovishly delivering what the market was pricing in (and Powell didn’t even get close to trying to walk back the exuberance)…
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  But while The Dow hit record highs, it was a bloodbath for hedgies today…
  The worst day for hedgies since June 2021…
  –
  read more.

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