A nuanced view, not capitulation
Jerome Powell, who as Federal Reserve chairman has been making investors skittish and President Trump livid with his talk on the need for sustained interest rate increases to keep the economy in check, suggested Wednesday that the central bank was close to ending such hikes.
The comments sent stocks soaring. Were they also a sign that Powell just blinked in the face of Trump's displeasure?
In a Washington Post interview on Tuesday, the president had said he was "not even a little bit...