(URGENT) FED CEO WANTS MORE RATE HIKES... | Summary and Q&A

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March 24, 2023
by
Ricky Gutierrez
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(URGENT) FED CEO WANTS MORE RATE HIKES...

TL;DR

The market is reacting negatively to comments made by St Louis Fed President James Bullard regarding inflation targets and interest rate hikes.

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Key Insights

  • 🎯 The market is reacting negatively to concerns about deviating from the target of 2% inflation.
  • 🥺 Bullard's comments on interest rate hikes differ from market expectations, leading to uncertainty and a negative market reaction.
  • 🌱 The current support level in the market is around 307, and if it breaks below that, the speaker plans to short the market.
  • 🧘 The speaker advises caution and patience during uncertain market times, highlighting the importance of not forcing positions and staying cash until clear opportunities arise.

Questions & Answers

Q: Why is the market reacting negatively to James Bullard's comments?

The market is reacting negatively because Bullard expressed concerns about deviating from the target of 2% inflation, which could have negative consequences for the economy.

Q: What is the current support level in the market?

The current support level is around 307, and if it breaks below that, the speaker plans to short the market.

Q: Who is James Bullard?

James Bullard is the President of the Federal Reserve Bank of St Louis, and he shared his views on inflation targets and interest rate hikes in a recent speech.

Q: What did Bullard suggest regarding interest rate hikes?

Contrary to market expectations, Bullard suggested that the market should anticipate two to three more interest rate hikes by the end of the year.

Summary & Key Takeaways

  • The NASDAQ market is slightly down, with resistance around 310 and support around 307.

  • St Louis Fed President James Bullard expressed concerns about deviating from the target of 2% inflation, stating that it could have dangerous consequences for the economy.

  • Bullard also suggested that the market should expect two to three more interest rate hikes by the end of the year, contrary to market expectations.

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