RE: The meaning of things30 Nov 2022 16:20
Powell speaks after we are closed. What he says will decide the end of the week IMO
Powell’s speech will be closely watched for signs of a slowdown in the pace of interest rate hikes by the central bank, as well as to assess the general health of the U.S. economy.
“The market is expecting him (Powell) to say maybe we won’t do the 75 bps hike ... when people listen to the Fed Chair speak, they’re waiting for that little hint,” said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.