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CHWY - Powell Was Masterful; We Have Until June 28 To Trade
Chewy Inc. Class A
All Hail Powell!
There are still a lot of minefields strewn ahead of us, but for now, let's celebrate what Powell did. He refrained from raising rates despite unrelenting pressure from the Commander-in-Chief. He reassured the market that interest rates will soon be lowered. Yet, he left out a date certain for a July cut. He was brilliant, he was reassuring, he did nothing, and may end up never doing anything, and that is fantastic. We should never doubt his ability to communicate ever again.