Markets popped. That said, should he be cutting? If he does, will that even affect the all important 10 year yield ?
It will affect the general Fed free money psychology and thats all that matters. When you print $4 trillion in fiat every year..you will never see actual lower rates again. But the psychology..the market had been used to rate easing cycles so long that it needs to continue. The market cant be allowed to realize low rates will never come back. You can second guess the fed all you want. But your going against the grain/spitting into the wind. For making money, its better not to question..just move with the grain.
I guess Powell doesnt feel there are enough stocks with no earnings that already have 10 billion dollar market caps?