Just a quick note on today's J. Powell press conference.
While stocks rallied on Powell poopooing a .75% hike at a future meeting and on the Fed delivering half the expected monthly balance sheet reduction (for the moment), as for the goal of taming the hottest inflation in 4 decades... umm, well, have a look at today's moves in:
Oil:
Copper:
Nat Gas:
Gasoline:
Ag:
Suffice to say that -- for the moment -- commodities traders need far more convincing...
Oh, and as for the dollar:
Stay tuned...
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