Stocks Slammed As Fed Vice-Chair Pours Cold Water On A 'Pause'

Following Fed's Bostic walking back his comments regarding a September pause in rate-hikes yesterday, Fed Vice-Chair Lael Brainard told CNBC this morning that ...it's "very hard to see the case for a pause in September."

Brainard added that: “We do expect to see some cooling of a very, very strong economy over time”

The reaction was swift, with stocks tumbling to the lows of the day...

Rate-hike expectations are now back above pre-Bostic levels as that 'strawman' has been eviscerated...

Additionally, Brainard reminded CNBC viewers that QT might be worth another 2-3 rate-hikes, meaning  even more tightening than STIRs are considering needs to be priced in.