Fed Powell Hawkish Pressure
Hawkish comments from Fed Chair Powell and dissent among FOMC members are putting pressure on stocks.
Too little corroboration in the last 3 days to call a trend (4 articles). Watching for it to gain traction.
"Stocks fell back from their best levels today after the University of Michigan's US May consumer sentiment index was revised lower to a record low, and May inflation expectations were revised upward. Also, hawkish comments from Fed Governor Christopher Waller weighed on stocks."
"Hawkish comments on Tuesday from Chicago Fed President Austan Goolsbee were bearish for stocks and bonds, as he said the worst part of today's April CPI report is services inflation and that 'the Fed has got to be thinking about how do we break the chain of escalating inflation.'"
"Stock indexes added to their losses today on signs of accelerating inflation after the US Apr CPI rose 3.8% y/y, stronger than the 3.7% y/y expected and the largest increase in almost 3 years. Hawkish comments today from Chicago Fed President Austan Goolsbee were bearish for stocks and bonds."
"The broader market came under pressure on Wednesday after three FOMC members dissented in favor of no easing bias in the FOMC ‘s decision to keep policy unchanged. Also, hawkish comments from Fed Chair Powell weighed on stocks, as he said a bit of monetary policy restraint is the right place to be."