Powell spoke, and the algos weren’t too happy with what they heard:
“We are attentive to recent data showing the resilience of economic growth and demand for labor. Additional evidence of persistently above-trend growth, or that tightness in the labor market is no longer easing, could put further progress on inflation at risk and could warrant further tightening of monetary policy.”
Stocks tumbled again, closing in on our next downside target from last week.
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