Why the Powell speech was less dovish than the market thinks

I am late on this analysis, but I spent some time on the weekend reading, and re-reading Powell's Jackson Hole speech. Contrary to the market's interpretation, I concluded that his speech was not as dovish as the market thinks.

There is much at stake for equity investors. The stock market is already risen to its highest level compared to past Fed rate hike cycles.

The full post can be found at our new site here.