Having jawboned the market down from over 6 rate-cuts to only 3 rate-cuts (and confirmed in today's dot-plot), we suspect Fed Chair Powell will take a small victory lap over the exuberant wishful-thinkers that hoped an 'easy' Fed will come rushing back...
The question is - will Powell talk down the hawkish 'projections' of the 'dots' as he usually does... offering hope to the uber-doves once again?
Maybe the fact that financial conditions are as 'loose' now as they were before The Fed started its hiking cycle will slow Powell's dovish roll...
Watch the Fed press conference live here (due to start at 1430ET):
