Podcast: Market indulges in risk-on after weak Powell pushback.
Saxo Market Call
Summary: Today features Saxo CIO Steen Jakobsen as we look at last night's FOMC meeting and Fed Chair Powell's unwillingness to push back strongly against market expectations for the path of Fed policy and really unwillingness to provide any guidance beyond data dependence. This sparked a strong risk-on rally as the market indulged in a complacent forecast for the path of inflation and the path for the Fed - something we would push back against strongly. Upcoming earnings, US-China relations and more on the pod. John J. Hardy hosts.
Listen to today’s podcast - slides are found via the link.
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