Watch Live: Fed Chair Powell Desperately Defend Fed Credibility
Having hiked rates by the most since November 1994, all eyes will now be on whether Fed Chair Powell can try to hold his “strongly committed” hawkish stance during the press conference.
As a reminder, if Powell tries to claim that the economy is strong enough to withstand these rate-hikes, show him this chart…
And ask him to explain why The Atlanta Fed just cut its GDP outlook to the point where it is forecasting a recession in Q2.
It appears to us that the market is desperately hoping for a more hawkish Fed, which will then usher in a recession.. bring forward the moment when Powell will be forced to flip-flop back to rate-cuts, end QT, and unleash QE to rescue the poor lambs from reality’s slaughter…
Watch Live (due to start at 1430ET):
Wed, 06/15/2022 – 14:25