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Funds Furious As Powell Pours Gasoline On "Most Hated Rally", Forcing Panic Buying

Tyler Durden's Photo
by Tyler Durden
Thursday, Jul 28, 2022 - 08:22 AM

Yesterday, ahead of today's FOMC meeting we were musing what would happen if the Fed followed in the ECB's footsteps and killed forward guidance.

Well, we got the answer today when Powell effectively confirmed he is just as clueless as Lagarde when it comes to forecasting the future, and his admission that the Fed will be pretty much exclusively data-dependent...