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Taming of Jerome Powell
There were times in the past when Federal Reserve Chairman Jerome Powell could act as if he was Master of the Monetary Policy Universe. Having increased interest rates several times during 2018, he announced on December 19 that more rate increases would follow next year. As markets cratered in the final days of 2018, the Federal Reserve cut rates repeatedly in 2019. Increasing the Federal Funds rate by 75 basis points in June 2022 for the first time since 1994, he suggested that such a big increase would not become the norm. Three more similar rate hikes followed before the year ended. Justifying near-zero interest ... (full story)
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- Sovy
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Trading is gambling. So gamble responsibly.
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