Jerome Powell Just Dropped the Ball

Jerome Powell and the Fed hiked interest rates. Here’s what you need to do next… [Turn Your Images On]( Jerome Powell Just Dropped the Ball [Turn Your Images On] [Matt Clark, Chief Research Analyst]( The Federal Reserve took a different tone when talking about future interest rate hikes today. As expected, Fed Chair Jerome Powell announced another 25-basis point hike. However, Powell hedged when it came to the future of those rate increases … going from mentioning “ongoing increases” to “additional policy firming.” This hints at a potential pivot away from more aggressive action in the immediate future. Markets responded with a sharp rally which quickly fizzled after Powell mentioned cuts were not part of the Fed’s “baseline expectation” for the rest of 2023. Powell, of course, kept the door open to further rate hikes … if future economic data indicates inflation is still rising. But the bigger news may lie in the financial sector… Bank stocks took a hit as the rate hike signaled the Fed’s focus on curbing inflation rather than a broader concern about the health of the American banks. The SPDR S&P Regional Banking ETF (ARCA: KRE) fell around 2%, as I write, while larger banks also inched lower as Powell acknowledged a pullback in lending activity due to disruptions in the banking industry. And bonds mounted a rally as the 10-year Treasury yield dropped from 3.541% to 3.503%. Gold futures also rose on the hopes of a rate increase slowdown. What this all means is volatility in the market remains prevalent. While the Fed statement led to a rally, Powell’s comments after did nothing to sustain that rally. And that tells me to expect more rocky trading ahead. --------------------------------------------------------------- [Turn Your Images On]( From our Partners at Banyan Hill Publishing. [The Most Important Trading Chart of the Day?]( If you understand what’s happening in this chart, you could target gains of 50% every day. On Thursday, March 23, 2023 at 1 p.m. ET, Mike Carr will show you how to use the 9:46 Rule to decipher this hidden pattern in the stock market. [Go here to register for FREE.]( --------------------------------------------------------------- The entire market braced for today’s Fed news. But my colleague Mike Carr kept his cool and stuck to [his systems](. And he wants to show you how to do the same: ignore the noise and find opportunities in whatever market conditions each day presents. Time is running out for you to sign up for the premiere of Mike’s [9:46 Rule presentation]( where he’ll show you how he targets quick gains up to 50% every day by using one simple set of parameters. [Click here to sign up now]( and get ready for Mike’s big reveal at 1 p.m. Eastern time tomorrow! Safe trading, Matt Clark, CMSA® Chief Research Analyst, Money & Markets --------------------------------------------------------------- Check Out More From Stock Power Daily: - [THE ONLY WAY DIVERSIFICATION WORKS]( - [THE MARKET YOU KNOW IS DEAD AND GONE: HERE’S WHAT TO DO]( - [FROM CODING NUKES TO FLIPPING STOCKS: THE MIKE CARR STORY]( Privacy Policy The Money & Markets, P.O. Box 8378, Delray Beach, FL 33482. To ensure that you receive future issues of Money & Markets, please add info@mb.moneyandmarkets.com to your address book or [whitelist]( within your spam settings. For customer service questions or issues, please contact us for assistance. The mailbox associated with this email address is not monitored, so please do not reply. Your feedback is very important to us so if you would like to contact us with a question or comment, please click here: [( Legal Notice: This work is based on what we've learned as financial journalists. It may contain errors and you should not base investment decisions solely on what you read here. It's your money and your responsibility. Nothing herein should be considered personalized investment advice. Although our employees may answer general customer service questions, they are not licensed to address your particular investment situation. Our track record is based on hypothetical results and may not reflect the same results as actual trades. Likewise, past performance is no guarantee of future returns. Certain investments carry large potential rewards but also large potential risk. Don't trade in these markets with money you can't afford to lose. Money & Markets permits editors of a publication to recommend a security to subscribers that they own themselves. However, in no circumstance may an editor sell a security before our subscribers have a fair opportunity to exit. Any exit after a buy recommendation is made and prior to issuing a sell notification is forbidden. The length of time an editor must wait after subscribers have been advised to exit a play depends on the type of publication. (c) 2023 Money & Markets, LLC. All Rights Reserved. Protected by copyright laws of the United States and treaties. This Newsletter may only be used pursuant to the subscription agreement. Any reproduction, copying, or redistribution, (electronic or otherwise) in whole or in part, is strictly prohibited without the express written permission of Money & Markets. P.O. Box 8378, Delray Beach, FL 33482. (TEL: 800-684-8471) Remove your email from this list: [Click here to Unsubscribe](