After listening to Powell's speech yesterday, the following key points stand out:
- The Federal Reserve raised interest rates at the fastest rate in its history.
- With the current Fed rate, its impact on the American economy appears to be moderate.
- Financial markets are adapting faster to changes in Fed policy.
- US economic growth maintains an above-normal trajectory.
The likelihood that the Fed will pause its monetary policy at its upcoming meeting on November 1 is close to 100%.
The Fed seems to have decided to take a break to be able to look at the situation around it from a different perspective.
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