Powell in a ‘Delicate Dance’ With Wall Street as Markets Heat Up
- Financial conditions have eased fast while crypto roars back
- Fed is looking to ease policy just as asset gains stoke demand
Jerome Powell
Photographer: Al Drago/BloombergThis article is for subscribers only.
Ever since the Federal Reserve began its policy-tightening campaign, Jerome Powell has been happy to ignore one form of inflation: Rising asset prices.
Now as the Fed chair gears up for his congressional testimony on Capitol Hill, Wall Street is starting to wonder just how long Powell’s hands-off approach can last against the backdrop of sizzling markets.