Wednesday saw the markets surge after Jerome Powell softened his stance at a noon-time speech in New York City. His comments were interpreted as more dovish, citing that the economy had yet to feel the full impact of the rate hikes. He also stated that the Fed’s series of rate hikes have brought policy to “just below” the range of neutral, which neither spurs nor restricts the economy (source: Bloomberg). On Thursday, the FOMC Minutes will be released along with a series of economic data.
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