Are investors right in expecting a dovish Fed pivot? ...Middle East

Following last week’s meeting of the Federal Open Market Committee (FOMC), the policymaking arm of the Federal Reserve (Fed), U.S. Treasury yields fell sharply and stock prices surged higher. Even though the FOMC raised the policy rate by 75-basis points, financial markets rallied as investors concluded that Chairman Jerome Powell’s comments during the follow-up press conference were indicative of a dovish monetary policy tilt. Specifically, the following statement by Powell was taken by market watchers as suggestive of a policy shift: “As the stance of monetary policy tightens further, it likely will become appropriate to slow the pace of increases while we assess how our cumulative p

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