Stocks rallied 2-4% each of the last four times the Fed hiked interest rates only to fall in the following days and weeks as investors confronted higher capital costs, rising inflation and slower growth. Yesterday was no exception after feckless Fed Chair Jay Powell suggested the Fed would likely raise rates more slowly going forward. But monetary pol…
Keep reading with a 7-day free trial
Subscribe to
The Credit Strategist
to keep reading this post and get 7 days of free access to the full post archives.