Will There Be a Powell Put? Investors May Not Know for Weeks
The Most 'Boring Man' in Washington Steps in as Fed Chair
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A key ingredient to the current sell-off in global markets has been questioning the Federal Reserve’s path for monetary tightening, given the prospects for sustained global economic growth and faster inflation.
There may not be an answer on that front for a while. The new Fed chairman, Jerome Powell is to be sworn in Monday, and isn’t scheduled to speak for weeks. That leaves investors plenty of scope to wonder whether the Fed will indeed raise rates only about five times by the end of next year, as currently projected.