, Columnists
'Everything Rally' Brings out the Mealy-Mouth in Powell
Attempt to rein in markets to again do the Fed’s job was blown off in a matter of minutes.
Fed Chair Jerome Powell at a roundtable discussion at Spelman College in Atlanta.
Photographer: Alyssa Pointer/BloombergThis article is for subscribers only.
To get John Authers' newsletter delivered directly to your inbox, sign up here.
We are in the midst of a sea change in rate markets as bond yields come down sharply, fueled by bets that the Federal Reserve will soon start easing monetary policy. The notion that the central bank would keep rates “higher for longer” now appears to have been jettisoned by investors across all asset classes.