Federal Reserve Chairman Jerome Powell faces a tough task on Wednesday, trying to steer clear of word choices that might kickoff a market overreaction, economists said. Making his life tougher is the fact that Wall Street is already unhappy with some of Powell’s recent communications efforts.
Stephen Stanley, chief economist at Amherst Pierpont, thinks the Fed is only firmly on hold for the next three meetings. “There is not a lot of love” for the Fed chairman on Wall Street, said Michael Gapen, chief U.S. economist at Barclays.
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