When the Stock Market and Jay Powell Are Frenemies

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Itchy-fingered traders can't make up their minds about whether the Federal Reserve means what it says. Investors should assume it does—and should avoid any sudden moves, writes jasonzweigwsj.

For the first couple of weeks of 2023, financial markets were partying as if New Year’s Eve had never ended. Traders took every message from the Federal Reserve that it would keep raising interest rates until inflation was snuffed out as another signal that the worst was over.

 

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jasonzweigwsj What? Time to be bullish!

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