Reuters: Shares gain, dollar slips as Fed's Powell sounds caution
December 1, 2023
"Powell did his utmost to subtly convince markets of the Federal Reserve's commitment to holding rates in restrictive territory for a prolonged period of time… But we doubt this will deter investors betting on a dramatic pivot in early 2024… By providing the terms - and the timeline - for a rules-based reduction in policy rates next year, Governor Waller earlier this week cleared the way for a sustained, data-driven decline in yields and the dollar." - Corpay’s Karl Schamotta