The Fed's November or December press statement included language about being 'mindful of lags' in monetary policy for the first time, which caused the stock market to rally for 30 minutes before Powell went to the podium and said the terminal rate would be 'much higher' than previously guided, causing the market to reverse.
factualpending
Speaker
David RosenbergEvidence Quote
“they snuck in for the first time in the press statement that they're being mindful of the lags. The markets ripped for half an hour...Powell goes to the podium and says...the terminal rate is going to be much higher”
Source
DoubleLine Round Table Prime, 2023 - Part 1: Macroeconomic State of Play 1-4-23— DoubleLine CapitalCreated: 8/11/2026, 1:33:48 AM
My Notes
Loading notes...