What happened? Powell went from cautiously hawkish to openly dovish over the course of a month. We have seen in past that even when interest rates are high it took around 5 years for inflation to go down.

The biggest Question is , is inflation going down.

We have seen in past that even when interest rates are high it took around 5 years for inflation to go down 😶

— AMUSIC (@TRUMP4USD) December 15, 2023

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This is going to be one of those we look back on and laugh at. pic.twitter.com/qJs5C4TwJD

— Wall Street Silver (@WallStreetSilv) December 15, 2023

*WILLIAMS: WE AREN’T REALLY TALKING ABOUT RATE CUTS RIGHT NOW

Two days ago:

POWELL: RATE CUTS ARE A TOPIC OF DISCUSSION RIGHT NOW

— zerohedge (@zerohedge) December 15, 2023

And now Fed speakers start to backtrack on the pivot

— zerohedge (@zerohedge) December 14, 2023

The Fed's press conference from yesterday is likely to be remembered as one of the most important macro events of this decade.
 
Any policymaker seriously committed to fighting inflation would never publicly announce an intention to start cutting interest rates before achieving… pic.twitter.com/xHUvuAuWOF

— Otavio (Tavi) Costa (@TaviCosta) December 15, 2023

CNBC: Markets are completely confused, with oil, gold, and bonds disagreeing on recession.

Why? Because the Fed is an 800 pound gorilla that dominates markets, and it has no idea what it's doing. Meaning the market also has no idea what it's doing. pic.twitter.com/24Yy5iRTzA

— Peter St Onge, Ph.D. (@profstonge) December 15, 2023