Do repost and rate:
Markets end up unconvinced by Fed chief’s declarations of toughness
Fed Chair Jerome Powell spoke to reporters after policymakers put a hawkish spin on their decision to skip a rate hike in June.
Photographer: Sarah Silbiger/BloombergLisa Abramowicz
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Fed Chair Jay Powell just can’t convince markets he’s truly hawkish. He’s clearly trying. Just look at those Federal Open Market Committee projections, he kept saying today, with year-end rates at 5.6% implying two more hikes by December. Or the fact that not one committee member is projecting rate cuts in 2023.
