It looks like Fed Chair Powell was just a bit too upbeat in his comments Wednesday so he sent the NY Fed's John Williams to CNBC to straighten things out. Bottom line? No rate cuts anytime soon. Here's ZeroHedge's take:
Bonds, Stocks, Gold Tumble After Fed’s Williams Comments
″...we aren’t really talking about rate-cuts right now.”
Tyler Durden
Will Williams' comments kill Santa's rally? We'll know soon. (By the way, today is an option expiration day so we were already expecting some volatility. These Fed comments aren't going to help.)