Don’t Get Too Excited About The Powell Put
Also Interesting
Markets may have been a little too quick to price out any further rate hikes
Global markets have recovered nicely from last year's panic attack (see Chart of the Week of February 1, 2019). This is all the more remarkable as neither the microeconomic perspective of corporate earnings nor the macroeconomic perspective of economic data point to a significant improvement in the economic outlook. In another respect, however, the situation has changed: last year, the U.S. Federal Reserve (Fed) was following a steady path of interest-rate hikes.
