U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee (FOMC) at the headquarters of the Federal Reserve on September 21, 2022 in Washington, DC. Powell announced that the Federal Reserve is raising interest rates by three-quarters of a percentage point. (Photo by Drew Angerer/Getty Images)
Boardroom Talk
Boardroom Talk: Powell has killed off Mr Market’s beloved ‘Fed Put’ and ‘Immaculate Disinflation’
Powell has lost patience with Wall Street. He instructed Mr Market to abandon fondly held ideas that would support a recovery in share prices.
Last week US Federal Reserve chairman Jerome Powell lost patience with Wall Street. He instructed Mr Market to abandon fondly held ideas that would support a recovery in share prices. After ignoring many warnings, this time investors are listening – and acting as though we're in for a hard landing for the world's biggest economy resulting in a likely recession.
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