Powell’s Speech Main Takeaway
The Main Takeaway From Powell’s Speech: Tom Essaye Quoted in Barron’s on MSN
The Stock Rally Won’t Resume Any Time Soon. Here’s Why.
As Sevens Reports Tom Essaye put it, “The main takeaway from Powell’s speech was that in this situation, there’s no way the Fed can get dovish.”
Bulls have pointed to ongoing strength in the labor market as evidence that the economy is still humming, and fodder for the rally. However, as plenty of Federal Reserve watches noted after Chairman Jerome Powell’s remarks last week, the central bank doesn’t appear inclined to let rates fall.
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