Jim Bianco on Fed Chair Powell's Reluctance To Discipline The Bulls (February 2023 FOMC)

On today's episode of Forward Guidance, Jim Bianco Founder of Bianco Research LLC joins the show alongside Mike Ippolito of On The Margin for a discussion on Powell's press conference on Wednesday 1st February.

Markets started the new year with a strong rally seeing gains of around 7% in the S&P 500. Many anticipated a hawkish press conference from Jerome Powell in a bid to tighten financial conditions and try ease some of the "animal spirits" that we saw throughout 2021. Jim makes just that comparison. "This market is showing signs of 2021" with the most speculative and highest beta names rallying the most. We walk through Powell's comments in the press conference after raising rates 25 basis points and what the path ahead will mean for markets, the economy and most importantly inflation. -- Follow Jim: https://twitter.com/biancoresearch Follow Mike: https://twitter.com/MikeIppolito_ Follow Jack: https://twitter.com/JackFarley96 Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/blockworks_

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