Jerome Powell in his recent speech announced yet another delay in the rate cuts. The market has reacted as the hopes are shattered.
There has been a strong reaction from both the commodity and the global market after the recent speech of Jerome Powell.
The Current Scenario Of The Global Market
Global indices are trading at much better levels than earlier this week. Dow, however, has seen a slight downturn. S&P 500 and Nasdaq are trading in the upper levels and Russel 2000 which was beaten hard for a few days showed a growth of 0.5%. 10 years US Bond yield on the other hand is on elevated levels. During the last trading session, it rose up to 4.4% which showed a significant picture of confidence in the bond markets.
Jerome Powell gave a public speech yesterday stating that the Fed needs to be confident about inflation before thinking about rate cuts. In an earlier speech, he said there will be 3 rate cuts this year which emotionally charged the market about 2 weeks ag
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