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The John Batchelor Show

#MrMarket: The bed market is fifty-fifty fr no Fed hike. Brett arends, Marketwatch

The John Batchelor Show

John Batchelor

Society & Culture, Arts, News, Books

4.52.8K Ratings

🗓️ 18 March 2023

⏱️ 10 minutes

🧾️ Download transcript

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#MrMarket: The bed market is fifty-fifty fr no Fed hike & 100 % more turmoil ahead.. Brett Arends, Marketwatch

https://www.msn.com/en-us/money/markets/fed-poised-to-approve-quarter-point-rate-hike-next-week-despite-market-turmoil/ar-AA18Lsi8


Transcript

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0:00.0

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0:15.4

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0:52.1

for now. A plan given by Hank Paulson's Treasury in 2007-2008, just in case something went

1:00.6

wrong with the money markets. Well, we remember very well after laymen something went wrong

1:06.2

with the money markets and Hank Paulson reached for Break the Glass program, which was to

1:11.9

stuff $1 billion checks in the pockets of all the bank executives. That was then. This

1:17.8

is now what we care about is monetary policy from the Federal Reserve. The market has opinions,

1:25.7

and you have very carefully reported those opinions for some time. This is the traders.

1:30.6

This is not the investor class. These are the managers. What their opinion is of what

1:35.6

the Federal Reserve will do in next week's meeting. Jerome Powell has said that inflation

1:42.6

price instability is his number one adversary, and he and the governors will continue to

1:48.1

tighten as long as it takes. Stay the course. Following the pattern set by the ECB these

1:54.6

last days were Christine Lagarde in Europe raised half a point. So Brett, it's not you,

2:02.3

it's the market speaking. Oh, crystal ball. What is expected from Mr. Powell next week?

2:07.5

Good evening to you. Good evening. Good evening. Great to be here.

2:11.6

The market has now taken 50 basis points off the table. They don't think that's going

2:21.8

to happen next week. They're giving that effectively a zero percent chance. They can't

2:26.8

work out where the power is going to raise by 25 basis points or not at all. The markets

...

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