Watch Live: Powell Explains How The Fed Will Assure A ‘Soft’ Landing
May 4, 2022 | Tags: ZEROHEDGEWatch Live: Powell Explains How The Fed Will Assure A 'Soft' Landing
With Manufacturing ISM employment stagnating, Services ISM employment contracting, ADP's employment gains the worst since the COVID lockdowns (and Small Businesses hemorrhaging job losses), a negative Q1 GDP print, and the reverse-wealth-effect from collapsing equity prices hitting hard, we look forward to hearing how Fed Chair Powell will assure a 'soft landing' for the economy amid the worst global stagflationary threat in decades...
After the biggest rate-hike since 2000's bursting of the Dot-Com bubble, will Powell set a hawkish 'credibility-supporting' tone during the presser? Or will he fold like a cheap suit and claim some form of 'data-dependence' as his 'out' should the market shit the bed sooner rather than later?
The Bear Traps' Larry MacDonald summed it up best:
"The Fed went to 50BN a month in September of 2018 and had to stop five minutes later in December this was after promising Wall St economists they were on Auto-pilot all the way up to a 2T reduction. Now, they are going to give it a try at 90B a month in May with back to back 50 bp hikes? Who are they kidding?
It's the worst start to a year for stocks in decades, consumer savings is down to the bone, GDP prints negative, and the Fed is going to kick off a record tightening cycle? It´s all a show."
'May the force be with you' Mr.Powell...
Watch live - and in-person for the first time since January 2020 - here (due to start at 1430ET):