The US Treasury Secretary Steven Mnuchin is on the wires now, via Reuters, noting that the market reaction to the Fed is “completely overblown”.
Additional Comments:
Focus on dovish Fed and not on more rate hikes to come.
The market reaction is completely overblown.
Thinks that the market was disappointed by Powell’s comments.
If inflation remains low, rate path for next year might change.
“You can’t just look at the headline which was two more rate hikes”.
“You have to look at the 17 dots on the dot plot”.
Says that the Fed is “close to done” and will be data dependent.
US equities remain a tremendous value.
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