Payne's Perspective: June 28, 2021: Summer of Love!
There was a tremendous amount of trepidation coming into the week after James Bullard derailed the rally with talk of rate hikes in 2022, just days after the FOMC shocked the market with talk-and dots- of rate hikes in 2023.
By the end of this past week, at least three Fed officials were calling for rate hikes next year, but the shock and awe factor had worn off by then. The fear of rate hikes still lurks, but the market is now putting its faith in the big three at the Fed to control the issue (read: Never Hike Rates).
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