Recession the new ‘Transitory’
Update: 2022-06-16
Description
The US Fed has a new yarn to spin you. After months and months of trying to convince the market that inflation was just ‘transitory’ despite all the data, Fed Chair Powell was last night, with a straight face, telling us: “There is no sign of a broader slowdown in the economy that I can see.” Meeting market expectations they hiked rates by a still huge 75bps, the biggest hike since 1994. We discuss why shares rallied and what’s ahead…
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