"I don't think he can have a magic wand," Cashin said, but he stressed investors wanted assurance from Powell that the Fed would be able to "maintain control" of bond yields and inflation expectations.as yields rose during Powell's interview. The move in yields came after Powell did not make a strong hint that the central bank would change its asset purchases.
Cashin mentioned before Powell's appearance that the Fed chair may be able to assuage trader worries if he discussed a potential "Operation Twist," in which it sells short-term bills and buys longer-duration bonds.
Can we just drop another 20% or whatever is needed to reach bottom so we can begin rebuilding?
We've got this. The light it's at the end of the tunnel and in sight!
Welcome to the correction!