Powell hikes 75 basis point and yet Nasdaq & Bitcoin are going to the moon. What the heck? While I disagree with the unfolding market narrative here, let me try to explain why we are witnessing such a rally. Despite openly recognizing economic growth is softening, the Fed unanimously (!) decided to hike by 75 bps - it's all about inflation, inflation and inflation. But markets convincingly started rallying only when Powell went ahead and said thefollowing......'' we are now at ...
