Stocks, Bonds, Gold, & Crypto Soar As 'Powell Put' Appears

Did Powell just deliver for Trump?

• The Fed left (median) rate expectations trajectory unchanged (despite stagflationary adjustments to forecasts), but the 'dot' adjustments were hawkish

• The Fed tapered QT bigly (dovish) - “People really like that” when the Fed did the last slowdown, he says. You can go “slower for longer.”