Powell Splashes A Little Cold Water

Yesterday the Fed Chairman suggested that the Fed is not in a hurry to lower rates.

PRE-OPEN MARKET COMMENTS FRIDAY - The market has been digesting recent gains and the price action has been compressed this week. The inflation numbers have been inline (CPI and PPI) and initial jobless claims were good (217K). Retail sales were better than expected this morning (.4%). There hasn't been a catalyst until Powell's statement yesterday. Economic growth is solid and the Fed does not feel they need to rush interest rate cuts.

Daily Bulletin Continues...