Tag: Powell

(14 December 2022) US stocks fell today as Fed Chair Jerome Powell hiked rates by 50 basis points and reaffirmed his commitment to raise interest rates even higher in 2023 in order to curb inflation.  Even if investors had bid up stocks after Tuesday's cooler-than-expected 7.1% CPI print, the Fed's target for a higher terminal rate next year was seen as hawkish.  While stocks suffered a modest loss today, bond yields and the dollar held mostly steady. As noted in last week's post, bond yields look vulnerable to another round...