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Investors Should Care About the Logic Behind the ‘Powell Pivot’
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The Powell Pivot is the one thing that can compete with Omicron for investor attention. That will be clear when the Federal Reserve discusses a faster taper of its bond purchases at this week’s meeting, due to conclude on Wednesday.
What really matters is the reasoning behind Fed Chairman Jerome Powell’s change of mind on monetary policy (aka the Powell Pivot). After months of reassuring everyone that inflation was “transitory” and would go away by itself, at the end of November he abandoned the idea and warned of tighter policy ahead. What the future brings depends on why he did so, and there are lots of theories, some more far fetched than others.
Read more on wsj.comAbout this in other media
Derby’s Take: Powell Says Markets in Good Shape Ahead of Busy 2022 wsj.com /3 years ago
Stock futures inch higher following Fed decision to aggressively wind down asset purchases cnbc.com /3 years ago
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