Should Anyone Have been Surprised?
Former JPMorgan Chase Global Chief Economist and Ph.D. in Economics
Fed Chair Powell hinted in his recent semi-annual Congressional testimony that the Fed might lift interest rates higher and faster than previously announced in the Fed’s Survey of Economic Projections (SEP). Such words led the Dow Jones Industrial Average to fall by 575 points and the S&P 500 index to dip by 1.5%, and markets to price in a 64% probabi…
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