The Fed wants to do a 'reset of valuations' in the stock market, particularly equity valuations, but Powell cannot say 'I want to destroy your 401k' publicly—instead he signals this through his statements about job losses and tighter financial conditions.
causalpending
Speaker
David RosenbergEvidence Quote
“I think that they want to do a reset of valuations in the markets. Uh and I mean principally the stock market, but Powell can't come out and say I want to destroy your 401k. You got to remember when he was But he can say I want job losses”
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
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