The Fed: Hilariously Dovish

Discussion

Last night FED Governor Christopher Waller gave a speech that one could be forgiven for interpreting as hawkish pushback to June rate cut pricing. He even followed up at the beginning of the Q&A with a hawkish response to a sarcastic question from the moderator asking “when and by how much will the Fed cut rates?” with: “Someday! Maybe! Not soon!”

But then roughly 20 minutes in he released the doves.