, Columnist
Fed Drops a Lump of Coal in Trump Market’s Christmas
Powell rebuffs notion that tariffs weighed on calculations for fewer cuts, but a showdown may be looming.
Volatility shot upward.
Photographer: Al Drago/BloombergThis article is for subscribers only.
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Every so often, things happen just as expected. That’s what happened Wednesday when the Federal Open Market Committee announced their widely telegraphed and oxymoronic “hawkish cut.” Rates came down, and guidance strongly suggested that there might not be too many more cuts to come.