Powell’s speech yesterday

Jerome Powell gave a speech at Stanford University yesterday with a Q&A afterwards. Powell stayed dovish (in contrast to Christopher Waller late last week.) What I found more interesting was that Powell refuted many of the current discussions as to why the Fed shouldn’t or…

All about Waller

Federal Reserve Governor Christopher Waller started the idea in late November that the Fed would be cutting rates soon but he took that away yesterday, likely causing a near-term inflection point towards higher short-term Treasury yields. It was a major moment for the bond and…