SHY - The Fed's Expeditious U-Turn
The latest FOMC statement and press conference certainly gave investors all they wanted to hear when it comes to Federal Reserve “flexibility,” which was a major issue in the 4Q-‘18 sell-off in the stock market.
“Patiently awaiting greater clarity,” as Jerome Powell put it last week, is very different than the “autopilot” gaffe he delivered on December 19, 2018, sending stocks down. Perhaps Jerome Powell has learned that as Federal Reserve Chairman it’s not just what you say but how you say it that moves the markets. Still, it has to be acknowledged that the