Not only "not dovish enough" but Powell confirmed that the balance sheet normalization will continue on auto-pilot (also tightening financial conditions)...
“The balance sheet is on auto pilot, we don't see balance sheet runoff as creating problems".
Stocks don't like it... Dow futures are down 900 points from their post-fed spike.
(Click on image to enlarge)
The entire equity market is being taken down...
(Click on image to enlarge)
And banks are dumping...
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.