Tue 11 Jun 2019 / North America
Powell revives talk of 'Fed put'
The Federal Reserve's two-day Chicago conference at the start of June was supposed to be a quiet, semi-academic review of monetary policy strategy, without generating any market-moving news. But monetary policy-makers don't always get to pick their moments, and Fed Chair Jerome Powell moved markets with just a few words when he spoke at their early June gathering. His concession in Chicago revived talk of a 'Fed put' – that the Fed would cut rates to prevent any substantial decline in the stock market.