You cannot get more hawkish than this. Fed’s Powell all but warned equity investors that the Fed was going to lay waste to their portfolios. This was explicitly stated when a reportedly errantly stated market had responded favorably to the Fed’s +75bps move, when in fact they had already traded lower by 131 NDQ. Powell responded by reminding the reporter the Fed wasn’t done.
REPORTER TELLS POWELL "MARKETS ARE RESPONDING FAVORBLY TO YOUR COMMENTS" AS NASDAQ PLUNGES LOWER BY 131 ***
— The_Real_Fly (@The_Real_Fly) November 2, 2022
Let me be emphatic.
The Fuck You Joe Biden trade is 100% a go. The Fed said NO PAUSE, strongly suggested PIVOTOOOORS to eat dicks. He even stated it would be better to overshoot than to permit inflation to become entrenched. He also stated the idea of a pause was moronic.
The market is now pricing in another +75bps for the December meeting. The idea of the FOMC stopping there is contingent upon just 1 thing: massive job losses.
The bottom line you need to understand is, as you gaze upon ROKU shattered to pieces in the after hours, the Fed is now mandated to destroy the economy and cause massive job losses.
The Permanent Bull class of investor has been dispatched and his body parts severed from his torso upon the Catherine Wheel in the great fires of 2022. Might I suggest you look towards to future to see black smoke and shards of metal bustling throughout your city streets — burned concrete and melted automobiles following a nuclear strike by Russia as the Ukrainian war takes on a more mental illness phase of development. You will rue the day you let your leaders get away with it.
In the meantime, wear your mask and inject poison into your children, all for the sake of science and feeeeeeeeeling better about yourselves — slow, dimwitted, vacuous, soulless scum.Comments »