You're listening to Closing Bell in Progress.

Well that was Fed Chair Jay Powell.

As you heard there after what our own Steve Leisman today described as a very hawkish

pause, the Fed now projecting at least two more rate hikes before it's all

said and done chair pal saying nearly all policy makers seem more hikes as

necessary also calling July a quote live meeting the stock market selling off almost immediately it's been a

little bit volatile and it is somewhat skewed at least as the Dow is concerned

today by what's been happening with United Health, but it was down by more than 400

points. S&P, as of a few moments ago, was in positive territory. So the market's

still trying to parse out what the Fed chair said and what it thinks the Fed is going to do in the

months ahead.

Good afternoon, I'm Scott Wopner, of course you're watching Closing Bell right here from

Post 9 at the New York Stock Exchange.

Double Lines Jeffrey Gunlock is joining me in just a moment for his first word on all of this.

Cameron Dawson of New Edge is here now as well.

We'll turn to her first.

So what's the story? Well the statement was

hawkish, the dots were hawkish, the SEP was hawkish, but then there was

that little window in the press conference where Powell wasn't necessarily the most hawkish he's ever been.

He didn't play the hawkish greatest hits. Instead he talked about how yes July is a live

meeting but certainly wasn't committing to it.

And you certainly saw the market sort of take that

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