It wasn't just a pivot, Powell admits the US economy is in trouble as unemployment has already started rising. While that's it's own can of worms, there are also more monetary and financial considerations related to what happened early in August. CLOs, collateral, stock market liquidations, all tied to what the Fed just agreed to.
Eurodollar University's Money & Macro Analysis
EDU YT Japan is buying MASSIVE Amounts of Junk Credit
https://www.youtube.com/watch?v=_a_2J6mU48o
CNBC Jay Powell Jackson Hole
https://www.youtube.com/watch?v=zpiMF6bZ0sg
Text of Powell Speech
https://www.federalreserve.gov/newsevents/speech/powell20240823a.htm
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
What is Eurodollar University?
Jeff Snider will guide you through the realm of monetary science. Multiple episodes uploaded each week, discussing big news and key current events, the state of markets and what they are telling you, as well as historical summaries and deep background material so that you can understand what’s really going on in this eurodollar’s world.