I do think that this Fed Chair has learned to be cautious, in reflection of the policy errors made in late 2018.
It makes a lot of sense for the Fed to wean the market off its reliance on explicit forward guidance, but it won't be easy.
Markets are watching what Fed Chair Powell will signal for future rate cuts during this afternoon's FOMC rate decision.
Rest up for a busy week that includes earnings from Apple, Facebook and Starbucks.
The U.S. Federal Reserve has u-turned too quickly and too aggressively this year, going from tightening to easing without allowing the market to react to "normalized" conditions.
The world's fastest-growing major nation has suddenly seen growth lurch lower. That's putting households, farmers and companies off big-ticket purchases such as vehicles.
It seems as if the complacency that has gripped the U.S. markets of late has crossed the Atlantic.
Money fled high-growth, high-multiple stocks on Wednesday and chased a mix of both defense and value.
This is a market that wants to focus on earnings, central banks, and other positive issues.
Citigroup and Lululemon are on the radar this morning.