Stocks Slide As Powell Confirms Balance Sheet Will Be “Substantially” Smaller…(7…Shutdown Both Systems…)
by Tyler Durden
ZeroHedge.com
Thu, 01/10/2019
Having initially popped as Fed Chair Powell used the word “patient” four times in the first few minutes of his Q&A today, stocks suddenly dropped as he addressed the size of the balance sheet…
Pump…
*POWELL: FED CAN WATCH PATIENTLY AND CAREFULLY
POWELL SAYS FED HAS THE ABILITY TO BE PATIENT ON RATES
*POWELL SAYS FED IS IN A PLACE WHERE IT CAN BE PATIENT, FLEXIBLE
*POWELL: FED WAITING, WATCHING AND CAN BE PATIENT, FLEXIBLE
And Dump…
*POWELL: WE WANT TO RETURN BALANCE SHEET TO MORE NORMAL LEVEL
*POWELL: NOT SURE YET WHAT LONG-TERM SIZE OF B/SHEET WILL BE
*POWELL: B/SHEET TO BE SMALLER THAN NOW BUT LARGER THAN BEFORE
Markets did not like that…
The Rest…HERE