"Powell Pivot Is Complete": Gold, Stocks, Bitcoin, & Bonds Surge As Fed Chair Says "Time Has Come For Policy To Adjust"
Posted on AllSides August 23rd, 2024
From The Right
Summary: Powell’s comments confirmed that a September rate cut is coming, as he said "the time has come for policy to adjust", with traders on the lookout for clarity regarding the magnitude of the cut. Commenting on the speech, WSJ's Nick "NIkileaks" Timiraos put it best: "The Powell pivot is complete" and notes the following:
Powell is dovish across the board—from the same stage where he two years ago signaled the Fed would accept a recession as the price of restoring inflation:
AllSides Media Bias Rating: Lean Right
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