Markets struggled to find conviction in either direction today on the eve of another important CPI print as volumes remained lower on the S&P 500. Jerome Powell stayed true to form and did not provide any reason for markets to lose their tranquility during his testimony in front of the Senate Banking Committee. It was more of the same from the Fed Chair as he reiterated the lack of need to adjust rates lowers due to a strong labor market, which is “not a source of significant inflationary press…
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