Watch Live: 'Pivoting' Jay Powell Explain How The Fed Never Saw This Slowdown Coming

Remember early December? The Fed was excitedly projecting multiple rate-hikes, a strong economy, resurgent inflation and "Buy Stocks, Sell Bonds" was the hidden message from behind the curtain.

And then - all of a sudden - stocks crashed, bond yields tumbled and Jay Powell and his Fed followers pivoted more aggressively than any Fed in history - gushing a narrative that prompter the market to

So the question is, dear Mr.Powell, who do you think is right? The bond market (with its weak growth outlook and forward-priced low rates for longer) or the stock market (resurgent on multiple expansion in the face of collapsing earnings and macro data?)...

Chair Powell is expected to start speaking at 1430ET...