In the wake of the November FOMC meeting, Fed Chair Jerome Powell summarized Fed policy very clearly with two statements: "We will stay the course until the job is done". He added, "It is very premature to think about pausing (rate hikes)".
It was a hawkish message, though Fed Funds expectations were largely unchanged after the meeting and press conference.
Stock prices reacted by skidding badly. The S&P 500 ended the day -2.5%. The Fed has made it clear that it wants to tighten monetary conditions by engineering an equity bear market. How far can the bear market run? Here is a roadmap.
The full post can be found here.
Peering into 2023: A bear market roadmap
November 05, 2022 at 13:45 PM EDT