Powell’s Hawkish Tone Fails to Tamp Down Inflation Expectations

“Stocks are weaker this morning on the conviction behind faster policy tightening,” said Jim Vogel, an analyst at FHN Financial. “Yet, the list of markets marching stubbornly on an upward trend is longer. The highlights: government yield curves, commodities, inflation expectations, corporate bond issuance are all largely undisturbed — implying tightening guidance to date is still too little too late.”

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