Fed Rug Pull [Updated]
"...will not hesitate to do so" is not what Mr Market wanted to hear
Fed Chair Powell Reverses Course
This is very different from what the market heard just a week ago.
The Bloomberg.com headline says it all. Interest rates jumped, and risky assets dropped sharply. Note that it is not only the direction/level, but the speed. It is very difficult for anyone to navigate around speed.
Perhaps the Fed watched the market’s reac…