Market Confusion Over Powell's Balance Sheet Message

The transcript discusses Jay Powell's communication about the Fed's balance sheet, market reactions, and the implications of global balance sheet deceleration. It explores the normal size of the balance sheet and compares the communication styles of different Fed Chairs, highlighting the need for market participants to adapt to Powell's more transparent and off-the-cuff style.

In what ways has the market reacted to Chairman Powell's communication style?

What are the potential future actions of the Fed regarding interest rates as discussed in the text?