People were looking for the pivot today, after the most aggressive tightening in over 40 years. But this was not the pivot. Investors watched markets ramp up in a straight line as the initial read on The Fed announcement leaned dovish. But, stocks came right back down in a straight line as Jerome P continued hawk-king. The longer he spoke, the harder the market dove (not a pun). Cries of “someone get him off stage!” were heard across Wall Street.
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