Powell Proves to Be the 'Artful Dodger' as Doves Flock at Fed, Economist Swonk Says

The transcript discusses Powell's cautious approach during a news conference, avoiding statements reminiscent of past remarks. The Fed's pivot to a neutral stance with no rate hikes for the year is highlighted, surprising some with its dovish tone. The Fed's decision to halt balance sheet reductions until September was unexpected. Powell skillfully navigated questions, maintaining a balanced view on risks, earning the nickname 'Artful Dodger'.

What was Powell's main objective during the news conference?

• To avoid making market-moving statements

• To provide a detailed economic forecast

• To discuss the balance sheet unwind

• To announce new rate hikes

What was the Fed's stance on rate hikes for the year?

• Rate cuts expected

• No rate hikes expected

• Two rate hikes expected

• One rate hike expected

What recent data influenced the Fed's decision on rate hikes?

• Consumer spending data

• Employment data

• GDP growth data

• Inflation data

When did the Fed plan to halt balance sheet reductions?

• By June

• Immediately

• By December

• By September

How did Powell handle questions about future rate changes?

• He avoided answering

• He committed to rate hikes

• He committed to rate cuts

• He maintained a neutral stance