Briefings

Week InReview: November 3, 2023

Subduing inflation.

For a lesson in the real-time pitfalls of Federal Reserve messaging, consider the market reaction to Jerome Powell's commentary on the role of Wall Street in subduing inflation. Stocks and Treasuries rose after the central bank held interest rates steady and the Fed chair name-checked rising bond yields in helping to tighten financial conditions — potentially serving as a substitute for additional interest-rate hikes down the road.


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