September Rate Cut In The Bag: Wall Street Reacts To Powell's Dovish Swan Song

In our preview of Jerome Powell's Jackson Hole swan song (because one thing is certain: Jerome will never come back to the Grand Tetons again), we said that "Powell Will Support A September Rate Cut", even though the rest of the market seemed to not agree (judging by the shocked response we saw at exactly 10am). As such, today's outcome was hardly a surprise to us and our subscribers who knew - and traded appropriately - everything that would happen.